Mexican Prime Minister Claudia Sheinbaum and United States President Donald Trump have agreed to extend a looming trade deadline by a “few more weeks” as they discuss pending issues in Washington.
During a press conference on Monday, Sheinbaum said Mexico would give more time to resolve 54 outstanding trade barriers.
The U.S. agreed to pause tariffs for 90 days on some Mexican goods to 30% from 25% in June as the two countries continued talks to reach a new trade agreement.
“I was interested in making sure that November 1 didn’t arrive without us having communicated and that we were in agreement that our teams were still working,” Sheinbaum said.
The talks were set to end this week.
Mexico has also been spared the brunt of the U.S. tariffs thanks to the United States-Mexico-Canada Agreement (USMCA) trade pact that is up for review next year.
Following Sheinbaum’s comments earlier this week, the Mexican peso strengthened 0.29% to 18.39 per U.S dollar.
Earlier this month, Sheinbaum expressed that she was confident Mexico would reach a favourable agreement with the U.S. on trade, and she was planning to unveil new advances in projects developing electric vehicles, semiconductors, satellites, drones and an artificial intelligence lab.
