Trump: Satisfied with Extending "Tariff Truce" with Mexico

October 29: President Trump stated on Tuesday that the postponement of the tariff truce announced by the Mexican leader was a positive development. This is because the country has already paid a significant amount of tariffs, which has benefited the United States. On Wednesday, while on Air Force One, Trump told reporters, "I am in favor of the extension agreement reached with Mexico." He had just completed his visit to Japan and was en route to South Korea to attend the Asia-Pacific leaders' meeting. "This extension agreement has been progressing quite smoothly. We have received a substantial amount of tariff revenue. They have paid an enormous sum of money." Instead of answering how long he believed the extended deadline should be, Trump said that the existing tariff rates were sufficient to assist in persuading car companies to bring manufacturing back to the United States. Prior to Trump's remarks, the Mexican president announced 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, in response to the punitive export tariffs imposed. (FX168)