US President Donald Trump has delayed the implementation of tariffs on Mexican imports to allow for trade negotiations. This decision comes amid escalating trade tensions among the countries.
US-Mexico Trade Talks
Trump's tariffs on Mexican imports were delayed as part of a broader agreement, aiming to negotiate a trade deal. Mexican President Claudia Sheinbaum confirmed that the deal also discusses the addressing of high-powered weapons trafficking between the countries. It is expected that the US will send top officials to lead the negotiations.
Canada and China's Response
Canadian Prime Minister Justin Trudeau announced a 25% tariff on $155 billion worth of US goods in response to the US actions. China has also vowed to challenge the US tariffs at the World Trade Organization.
Impact on Cryptocurrency Market
Following the delay of Trump's tariffs, the cryptocurrency market saw a sharp upswing after recent declines. Over the past 24 hours, more than $2 billion in cryptocurrency positions were liquidated, according to CoinGlass. Bybit CEO Ben Zhou suggested that the actual amount might be even higher.
The delay in US tariffs on Mexico has initiated new trade talks welcomed by international markets. Canadian and Chinese responses add complexity to the ongoing trade environment.
