International Trade News: U.S. and Mexico Have Reached a Deal, Suspending Tariffs "Indefinitely"
The proposed additional five percent tariffs on goods from Mexico that were set to go into effect on June 10, 2019 have been "indefinitely suspended" due to a deal between the U.S. and Mexico, which occurred on Friday, June 7, 2019. According to the U.S. Department of State, the U.S. and Mexico will commit to strengthening bilateral cooperation and implementing Migrant Protection Protocols.
Discussions between both parties will continue and, if additional terms are necessary, are to be completed and announced within 90 days.
The U.S. and Mexico have reiterated their December 18, 2018 statement that "both countries recognize the strong links between promoting development and economic growth in southern Mexico and the success of promoting prosperity, good governance and security in Central America."
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