US President Donald Trump announced via Twitter late Friday that a signed agreement has been reached with Mexico, and that the tariffs scheduled to go into effect on Monday have been suspended.
Just last week, Trump announced that a five percent tariff on all goods coming from Mexico would go into effect on June 10, and would gradually increase up to 25 percent until the illegal immigration problem was resolved.
The announcement launched a flurry of talks between officials from both countries, with reports that Mexico was willing to make some concessions.
Late Friday, Trump tweeted, “I am pleased to inform you that The United States of America has reached a signed agreement with Mexico. The Tariffs scheduled to be implemented by the U.S. on Monday, against Mexico, are hereby indefinitely suspended.”
Trump via Twitter said that Mexico, “has agreed to take strong measures to stem the tide of Migration through Mexico, and to our Southern Border. This is being done to greatly reduce, or eliminate, Illegal Immigration coming from Mexico and into the United States.”
Trump said that details of the agreement will be released shortly by the State Department.