'We have agreed to extend, for a 90 Day period, the exact same Deal as we had for the last short period of time, namely, that Mexico will continue to pay a 25% Fentanyl Tariff, 25% Tariff on Cars, and 50% Tariff on Steel, Aluminum, and Copper,' Trump said, adding that, in turn, Mexico would lift certain trade barriers.

Just hours before the deadline, Trump on Thursday said he would enter a 90-day negotiating period with Mexico over trade as 25% tariff rates stay in place, providing a bit of clarity to a massive rewiring of the global economy that will require the president to sign a new executive order.

President Trump said Thursday he would allow another 90 days for trade talks with Mexico, punting a 30 percent tariff that was set to go into effect Friday. Trump spoke Thursday morning with Mexican President Claudia Sheinbaum ahead of the announcement.