Hey fam! 🇲🇽🤝🇺🇸 Mexico and the US just hit pause on a major tariff deadline set for Nov. 1—think of it like getting extra time on a uni assignment! 🎉
Back in July, Washington threatened to bump tariffs on some Mexican exports from 25% to 30%, but then granted a 90-day reprieve. That countdown was ending this Nov. 1, but during talks Saturday, Mexican President Claudia Sheinbaum announced both sides will get 'a few more weeks' to sort things out.
The hang-up? The US wants Mexico to remove 54 non-tariff barriers—basically extra rules or checks that can make trade trickier, like surprise quiz questions before you hand in your homework 📋.
Sheinbaum says they’re practically closing this issue, so a deal could be just around the corner. It’s part of President Trump's strategy, slapping duties on partners he feels aren’t playing fair—remember the levies on steel, aluminum and copper? 🛠️
Why care? Even if you’re in Mumbai, Manila or Kuala Lumpur, these moves can affect prices and availability of everything from the latest smartphone drop to your favorite street food ingredients 📱🍜. Lower friction = smoother supply chains = a win for all of us.
Stay tuned—this trade saga might be wrapping up soon! 🔍✨
Reference(s):
cgtn.com
