Trump Grants Mexico 90-Day Tariff Reprieve Amid Flurry of Trade Moves

President TRUMP delayed imposing higher tariffs on Mexico for 90 days, opting to maintain current rates while negotiations continue. The decision follows discussions with Mexican President Claudia Sheinbaum and averts an immediate escalation with the US's largest trade partner. Copper futures (HG=F) plummeted after Trump imposed 50% tariffs on semi-finished copper products but excluded scrap materials.

The administration has rolled out a series of aggressive trade measures this week. A new deal with South Korea introduces a 15% tariff on imports while exempting US exports. Trump also signed orders ending the $800 de minimis exemption for low-value imports and imposing 50% tariffs on Brazilian goods—though key products like orange juice and aircraft parts were spared. A preliminary EU trade agreement imposes 15% tariffs, though critical details remain unresolved.