WASHINGTON -- The U.S. is considering delaying President Donald Trump’s threatened tariffs on Mexico as talks continue over stemming the flow of undocumented migrants and illegal drugs from Central America, according to people familiar with the matter, Bloomberg News reports.
Mexico is pushing for more time to negotiate over concerns the two sides won’t be able to reach agreement on all the steps Mexico would have to take to avert the tariffs, one person said. Trump has said the tariffs will be enacted on Monday.
One U.S. official said the most likely outcome is still that a 5 percent tariff goes into effect. But the official said U.S. negotiators recognize that Mexico is taking the talks seriously and working quickly to address Trump’s concerns. If the 5 percent tariff is triggered but Mexico follows through on promises to crack down on migration, the duties could be short-lived, the official said.
Most U.S. stock markets rallied on the news.