--- title: "One loosens, one tightens: Trump delays the deadline for the US-Mexico trade agreement, stating that he will not restart US-Canada negotiations for \"some time.\"" description: "Mexican President López Obrador stated that after speaking with Trump, both sides agreed to extend the negotiation period to reach an agreement on non-tariff trade barriers. The Mexican peso hit a new" type: "news" locale: "en" url: "https://longbridge.com/en/news/262954997.md" published_at: "2025-10-27T20:35:15.000Z" --- # One loosens, one tightens: Trump delays the deadline for the US-Mexico trade agreement, stating that he will not restart US-Canada negotiations for "some time." > Mexican President López Obrador stated that after speaking with Trump, both sides agreed to extend the negotiation period to reach an agreement on non-tariff trade barriers. The Mexican peso hit a new daily high. Due to an anti-tariff advertisement sponsored by Ontario Province, which was voiced by Reagan, Trump announced late Thursday to terminate the U.S.-Canada trade negotiations, and on Saturday stated that he would raise tariffs on imported Canadian goods by 10%. On Monday, he expressed that he did not want to meet with Canadian Prime Minister Carney. Carney stated on Monday that he was ready to restart negotiations at any time, and since the negotiations were interrupted, Canada had not spoken with Trump and had not received details on the implementation of the increased tariffs. Ontario Premier Ford stated that he would never apologize for the related advertisement U.S. President Trump has shown a clear divergence in his attitude towards trade negotiations with two neighboring countries. He agreed to postpone the deadline for reaching a trade agreement with Mexico by several weeks, while indicating that he does not plan to resume negotiations with Canada "for some time," as trade talks between the two countries have stalled due to anti-tariff advertisements in Ontario. On Monday, the 27th, Eastern Time, Mexican President Sinaloa stated at a press conference that she had a brief phone call with Trump last Saturday, during which both sides agreed to extend the negotiation period to reach an agreement on non-tariff trade barriers still under discussion. She stated, "There is currently no situation of imposing any special tariffs on November 1," and that both sides are close to reaching an agreement, agreeing to speak again in the coming weeks. Trump had originally planned to raise the fentanyl-related tariffs on specific Mexican goods from 25% to 30% on November 1. Following Sinaloa's remarks, the Mexican peso rose to a daily high, with the dollar falling below 18.40 against the peso during early trading hours in the U.S. stock market, a decline of nearly 0.5% for the day. Standard Chartered economist Dan Pan stated that comments regarding the progress of negotiations "boosted market optimism about Mexico's relatively favorable position in trade negotiations with the U.S., especially considering its high dependence on the U.S. market." In contrast, Trump clearly stated on Air Force One while traveling from Malaysia to Japan on Monday that he does not want to meet with Canadian Prime Minister Carney during his visit to Asia. According to the schedule, both Carney and Trump are set to attend the APEC summit in South Korea this week. Trump said: > "I don't want to meet him (Carney). We won't be talking to them (Canada) for some time. I am very satisfied with the current agreement with Canada, and we will let it continue." ## Mexico Gains Negotiation Buffer Sinaloa stated on Monday that she and Trump agreed that the U.S.-Mexico negotiations are progressing "very smoothly," even on contentious issues such as security and immigration. The White House has not commented on this. Trump has imposed tariffs on a range of imported goods from Mexico, including steel, aluminum, and automobiles. However, he has also shown a willingness to negotiate, repeatedly postponing the implementation of higher tariffs or exempting certain Mexican goods, often making these decisions after conversations with Sinaloa. These tariffs apply to products not protected by the USMCA. Mexican Economy Minister Marcelo Ebrard insisted that despite the current tariffs, Mexico is in a more favorable position than other countries, as the country is not subject to blanket tariffs, with over 80% of its exports still enjoying zero tariffs and protection under the USMCA. More than 80% of Mexico's exports go to the U.S. market. Earlier this year, Sinaloa submitted a plan to Congress to impose tariffs of up to 50% on products from countries (especially China) that do not have trade agreements with Mexico. Lawmakers postponed discussions on the proposal until November. ## U.S.-Canada Negotiations Stalled Canada currently faces a 35% basic tariff from the United States. However, due to the exemptions under the trilateral trade agreement "United States-Mexico-Canada Agreement" (USMCA) that took effect in 2020, most Canadian exports to the U.S. actually enjoy zero tariffs. The U.S. also imposes industry-specific tariffs on Canada, with Canadian steel and aluminum products facing a 50% tariff, and Canadian-made cars and trucks only partially qualifying for the exemption from the 25% auto tariff. Last Thursday night, Trump suddenly announced the suspension of all trade negotiations with Canada due to Ontario's sponsorship of anti-tariff television ads. Wallstreetcn mentioned that the ad quoted former U.S. President Reagan criticizing tariffs. Some commentators pointed out that the ad angered Trump because it utilized one of the most representative voices of the Republican Party, Reagan, to attack tariffs, spreading doubt among Republican voters. Reports indicated that the ad criticized tariffs through Reagan's voice, not only touching Trump's bottom line on tariff policy but also resonating with his emotional identification with his political "idol," Reagan. Last Friday, Ontario Premier Doug Ford softened his stance, stating that after directing the continued airing of the ad over the weekend, it would be suspended starting this week, but Trump expressed dissatisfaction that Ford did not immediately remove the ad. Last Saturday, Trump stated that he would raise the import tax on Canadian goods by 10% due to the ad, but did not provide further details. When asked when the additional tariffs would take effect, Trump said he did not know, stating, "We'll see." Trump also mentioned that even after learning the ad was funded by Ontario and not the Canadian federal government, he did not change his stance. He said, "(Carney) knows — everyone knows." ## Carney says ready to restart negotiations, has not spoken to Trump since negotiations were suspended Carney stated on Monday that he is ready to sit down and negotiate with Trump, noting that significant progress has been made between Canada and the U.S. in the areas of steel, aluminum, and energy, and that they have even exchanged lists of terms. Carney said, "In any complex, high-stakes negotiation, unexpected twists can occur, and you must remain calm in those situations." He indicated that he has not spoken to Trump since the negotiations were suspended but believes the television ad was indeed the reason for the suspension and still sees value in restarting negotiations. Carney stated that his government has not received any further details on how the U.S. plans to implement the increased tariffs. Carney said, "A series of very detailed, very specific, and very comprehensive discussions have recently taken place," and indicated that the Canadian government recognizes the progress made and is prepared to restart negotiations at the appropriate time. Ford defended the government's advertising campaign, calling it "the best ad ever." He stated he would never apologize for defending jobs in the province and accused the Trump administration of trying to take those jobs away through tariffs. Ford mentioned that he has been hearing for months that an agreement is imminent but has never mentioned any relief for Ontario's hard-hit automotive industry. 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