President Donald Trump talks to the media before he departs the White House on June 02, 2019 in Washington, DC.
Tasos Katopodis | Getty Images
President Donald Trump said on Friday that Mexico may be able to avert tariffs on its goods by purchasing American agricultural products. Trump had previously said that escalating tariffs would be imposed, starting Monday, until Mexico took steps to stem unlawful immigration to the U.S.
“If we are able to make the deal with Mexico, & there is a good chance that we will, they will begin purchasing Farm & Agricultural products at very high levels, starting immediately,” Trump wrote in a post on Twitter. “If we are unable to make the deal, Mexico will begin paying Tariffs at the 5% level on Monday!”
The Mexican peso hit session highs following Trump’s tweet before edging down.
A White House spokesman did not immediately respond to questions from CNBC about agricultural exports, and the degree to which they were part of talks with Mexico. The Mexican foreign ministry did not immediately provide comment.
The U.S. exported $19 billion in agricultural products to Mexico last year, according to government statistics.
— CNBC’s Christina Wilkie, Fred Imbert and Kevin Breuninger contributed to this report.
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