Over the weekend, Mexico and the US announced they had reached agreement on a number of issues, thereby "indefinitely" delaying the imposition of tariffs on Mexican exports to the US. The tariffs had been expected to kick off today; 5% initially, stepping up by 5% each month to 25% in October.
Both governments hailed the agreement as a victory for their respective countries, but Mexico appears to be worse off. The Mexican authorities have agreed to commit to deploy c6,000 troops from the recently created National Guard to Mexico’s southern border (to make it harder for citizens of other Central American countries to enter Mexico) and, perhaps more importantly, to keep asylum seekers in Mexican territory while the US processes their applications.
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