US announces 90-day negotiating period with Mexico

President Donald Trump said Thursday that there would be a 90-day negotiating period with Mexico after a call with that country's leader, Claudia Sheinbaum, as the 258 tariff rates stay in place.

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Trump, posting on Truth Social, said his phone conversation with Sheinbaum was “very successful in that, more and more, we are getting to know and understand each other.” He also said that autos would face a 258 tariffs - while copper, aluminium and steel would be taxed at 508.

Meanwhile, the US president has announced a flurry of trade activity ahead of his latest deadline Friday to impose even steeper import taxes on goods coming from countries around the world. A handful of trade deals have trickled inbut many details remain hazy. Thorny negotiations for most trading partners remain up in the air. And many businesses and manufacturers around the world are warning of higher prices and continued uncertainty.

Here's the Latest: Mexico's President Claudia Sheinbaum applauded yet another delay in threatened tariffs from the Trump administration after speaking with Trump Thursday morning.

“We had a very good call with United States President Donald Trump. We avoided the tariff increase announced for tomorrow and we got 90 days to build a long-term agreement through dialogue,” Sheinbaum wrote on X.

Mexico had faced the prospect of 308 tariff from Trump set to start Friday.