AdvertisementAdvertisementFILE - Mexican President Claudia Sheinbaum attends her morning press conference at the National Palace in Mexico City, April 2, 2025. (AP Photo/Marco Ugarte, File)01 Aug 2025 01:05AM Bookmark Bookmark WhatsApp Telegram Facebook Twitter Email LinkedInRead a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST MEXICO CITY: Mexican President Claudia Sheinbaum said on Thursday (July 31) that she secured a pause on new tariffs coming into effect and 90 days to work on a trade deal in a call with US President Donald Trump.The agreement avoids the 30 per cent tariffs that had been set to come into force on Friday.Speaking in a regular press conference after the announcement, Sheinbaum said the pause safeguards the US-Mexico-Canada Agreement (USMCA) and means goods compliant with the pact will continue to be exempt from the 25 per cent tariffs Trump imposed earlier this year due to the fentanyl crisis.Trump says Mexico, EU to face 30% tariff from Aug 1Commentary: What the world got wrong about tariffsApproximately 85 per cent of Mexican exports comply with the rules of origin outlined in the USMCA, according to Mexico's economy ministry.Economy Minister Marcelo Ebrard, speaking alongside Sheinbaum, said Thursday's agreement brought the countries closer to securing a long-term trade agreement."All of this was achieved without a single concession on Mexico's part," said Ebrard. "It's a great achievement."Both Sheinbaum and Ebrard stressed that the pause means Mexico continues to be one of the countries in the world with the most preferential access to the US market.Source: Reuters/fsSign up for our newslettersGet our pick of top stories and thought-provoking articles in your inboxSubscribe hereGet the CNA appStay updated with notifications for breaking news and our best storiesDownload hereGet WhatsApp alertsJoin our channel for the top reads for the day on your preferred chat appJoin hereAlso worth readingContent is loading...Expand to read the full storyGet bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST