Trump: Satisfied with Extending "Tariff Truce" with Mexico

BlockBeats News, October 29: U.S. President Trump said on Tuesday that the postponement of the tariff truce announced by the Mexican leader was a positive move, as the country has already paid a large amount of tariffs, benefiting the United States. Trump told reporters on Air Force One on Wednesday, "I like the extension agreement reached with Mexico."

He had just finished his visit to Japan and was on his way to South Korea to attend the Asia-Pacific leaders' meeting. "This extension agreement has progressed very smoothly. We have received a large amount of tariff revenue. They have paid a huge amount of money." Trump avoided the question of how long he thought the extended deadline should be and instead said that the existing tariff rates were sufficient to help persuade car companies to bring manufacturing back to the United States.

Before Trump's remarks, the Mexican president said on Tuesday that the United States would extend the deadline for reaching a trade agreement with Mexico by several weeks. This is the latest grace period granted by Trump to the United States' southern neighbor and largest trading partner, Mexico, for the punitive export tariffs imposed. (FX168)