Trump agrees to a one-month pause on Mexico, Canada tariffs

On Monday morning, Mexican President Claudia Sheinbaum and US President Donald Trump announced the US is pausing tariffs against Mexico for one month, as previously reported by Bloomberg. In the afternoon, a similar deal was announced by Trump and Canadian Prime Minister Justin Trudeau to pause proposed tariffs for 30 days. Trudeau cited Canada’s $1.3 billion border plan and said it would also make new commitments, including a joint strike force and an intelligence directive aimed at organized crime.

There’s no word yet on any kind of delay in implementing a pause for tariffs on China.

“Mexico will immediately reinforce the northern border with 10,000 members of the National Guard to prevent drug trafficking from Mexico to the United States, particularly fentanyl,” Sheinbaum wrote in a post on X. She said the US is “committed to working to prevent the trafficking of high-powered weapons to Mexico.”

Announcing the deal with Mexico, Trump said on Truth Social, “We further agreed to immediately pause the anticipated tariffs for a one month period during which we will have negotiations headed by Secretary of State Marco Rubio, Secretary of Treasury Scott Bessent, and Secretary of Commerce Howard Lutnick, and high-level Representatives of Mexico.”

Update, February 3rd: Added details about a deal with Canada.