U.S. President Donald Trump announced on Twitter yesterday that Mexico has agreed to immediately begin buying large quantities of agricultural products from the U.S. Unlike many other news organizations, we have not put up a paywall.
Having threatened Mexico with an escalating series of tariffs - starting at 5 percent and growing to 25 percent - the president faced enormous criticism from global leaders, business executives, Republican and Democratic lawmakers, and members of his own staff that he risked disrupting a critical marketplace.
From the moment Trump announced the tariff threat, observers wondered whether he would pull the trigger, noting his habit of creating problems and then claiming credit when he rushes in to solve them.
The Times did acknowledge deep down in the text that the Mexicans offered more than ever on some accounts and that part of the negotiations were about the USA getting Mexico to act faster on previous promises with the threat of tariffs.
He said Mexico has agreed to work to "stem the tide of Migration through Mexico, and to our Southern Border" and said those steps would "greatly reduce, or eliminate, Illegal Immigration coming from Mexico and into the United States". "Mexico came to the table with real proposals".
"We think the threats, demands and Trump tweets against Mexico will continue, especially because it's all tied up with the politics of the 2020 election", said Gabriela Siller, an economist at Mexican bank Banco Base. "These are agreements that Mexico had already made and, in some case, months ago", the former congressman from Texas said on ABC's "This Week". The peso, which had been pummeled in recent months on fears over a trade war, on Friday strengthened 0.5% after Trump tweeted that there was a "good chance" a deal would be reached with Mexico.
"Republicans understand that tariffs are attacks on American consumers, and we don't want to see them in place long-term, nor do I believe President Trump does, either", he said on Fox News.
The deal to avert tariffs that President Trump announced with great fanfare on Friday night consists largely of actions that Mexico had already promised to take in prior discussions with the United States over the past several months, according to officials from both countries who are familiar with the negotiations. "However, if for some unknown reason. there is not, we can always go back to our previous, very profitable, position of Tariffs". He added that the provisions in the agreement were "likely to have only a small impact on solving the root causes of Central American migration because numerous components are things Mexico is already doing".
That said, the Wisconsin lawmaker added, "I think he used them as leverage in this situation brilliantly".
"Threats and temper tantrums are no way to negotiate foreign policy", she said.