Tariffs Indefinitely Suspended on Mexican Imports

On June 7, 2019, President Trump announced that the 5 percent tariffs scheduled to be imposed on all imports from Mexico as of June 10, 2019, have been “indefinitely suspended” because the U.S. and Mexico reached a signed agreement. President Trump indicated that Mexico “has agreed to take strong measures to stem the flow of Central American migrants into the United States,” however, no details of the signed agreement have been released.
Following the President’s announcement, the U.S. Department of State released a U.S.-Mexico Joint Declaration, providing that the U.S. government and Mexico “will work together to immediately implement a durable solution” to address the “shared challenges of irregular migration.”
The June 7 announcement quickly ended the planned tariff increase on all imports from Mexico that the White House recently announced on May 30, 2019. 

For more information, please contact a BDO Customs and International Trade Services professional.