❓WHAT HAPPENED: Mexican President Claudia Sheinbaum announced an extension of the trade deadline between Mexico and the U.S. to discuss pending issues.
👤WHO WAS INVOLVED: Mexican President Claudia Sheinbaum and U.S. President Donald J. Trump.
📍WHEN & WHERE: The announcement followed a conversation on Saturday, with Sheinbaum addressing the matter in her Monday press conference in Mexico City.
💬KEY QUOTE: “I was interested in making sure that November 1 didn’t arrive without us having communicated and that we were in agreement that our teams were still working,” said Sheinbaum.
🎯IMPACT: Following the announcement, Mexico’s peso saw a modest gain, strengthening by 0.29 percent to 18.38 per dollar, reflecting confidence in the ongoing negotiations.
Mexican President Claudia Sheinbaum revealed on Monday that she had spoken with President Donald J. Trump over the weekend, resulting in an agreement to extend the trade deadline for discussions between the two nations. The original pause in tariff increases, agreed upon in July, was set to expire this week.
Sheinbaum stated during her morning press conference, “I was interested in making sure that November 1 didn’t arrive without us having communicated and that we were in agreement that our teams were still working.” She added that the focus remains on resolving 54 outstanding trade barriers.
Following the announcement, Mexico’s peso saw a modest gain, strengthening by 0.29 percent to 18.38 per dollar, reflecting confidence in the ongoing negotiations. The U.S.-Mexico-Canada Agreement (USMCA) has largely shielded Mexico from significant tariff hikes in recent years, but the deal is set for review next year.
Earlier in October, Sheinbaum expressed optimism about reaching a favorable trade agreement and highlighted plans to advance projects related to electric vehicles, semiconductors, satellites, drones, and artificial intelligence (AI). “We continue working and there is no situation in the near future where there could be any special tariff on November 1,” she noted.
When asked whether Mexico would continue to approach U.S. trade talks independent of Canada—including next year’s USMCA review—Sheinbaum urged caution. “Let’s not get ahead of ourselves,” she said. Last week, President Trump broke off trade talks with Canada over a lack of progress and meddling by Ontario Premier Doug Ford.
Join Pulse+ to comment below, and receive exclusive e-mail analyses.