Trump grants Mexico a 90-day reprieve from tariffs, unleashes global trade moves on Brazil, India, EU, and more. Here’s what it means for you.
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Trump Tariffs Live Updates: Trump Grants Mexico 90-Day Reprieve as Countries Race to Make Deal
In a dramatic 24-hour period ahead of his sweeping new tariffs, former President Donald Trump granted Mexico a critical 90-day reprieve. The pause, announced Thursday via social media, comes as Trump races to ink last-minute trade deals with major global partners—each maneuver reshaping U.S. trade policy, upending global markets, and signaling a return to his aggressive America-first strategy.
From Europe to Asia to Latin America, Trump’s tariff bombshells are ricocheting through capitals and boardrooms alike. Here’s what you need to know about the latest developments.
🇲🇽 Trump Extends Tariff Reprieve to Mexico
“We will be talking to Mexico over the next 90 Days with the goal of signing a Trade Deal,” Trump posted on Truth Social after speaking with Mexican President Claudia Sheinbaum. The announcement delays a 35% tariff set to kick in Friday.
Mexico is the U.S.’s largest trading partner, and a key source of automobile parts, agricultural produce, and metals. Without the extension, analysts feared major supply chain disruptions.
But even with the reprieve, tariffs on Mexican metals and autos remain intact. Some in Mexico’s government say the pause is more strategic than generous.
“The extension buys time but not certainty,” said Rosa Sánchez, a trade law professor at UNAM. “It also sends a message—deals can happen, but only on Trump’s terms.”
🌍 Trump’s Global Tariff Blitz: The Rundown
Over the past 48 hours, Trump has launched or expanded tariff policies targeting countries across four continents. Here are the highlights:
✅ Deals Inked:
- South Korea: A 15% tariff on imports, offset by a $350 billion investment pledge.
- Thailand & Cambodia: Agreements reached after a Trump-brokered ceasefire.
- Pakistan: Oil exploration rights exchanged for tariff relief.
- EU: A handshake deal sets 15% tariffs on wine and spirits pending further talks.
🔄 Deals Pending or in Conflict:
- India: Facing a 25% tariff threat, amid tensions over Russian energy imports.
- Brazil: Hit with 50% tariffs, though key exports like orange juice were spared.
- Taiwan: Deal reportedly close but unconfirmed.
- Canada: Talks stalled after Canada voiced support for Palestinian statehood.
💥 The Copper Shock: Markets in Freefall
One of the most unexpected and impactful moves came in the copper market, where Trump imposed a 50% tariff on semi-finished copper products.
📉 Copper prices in New York fell 21.7% overnight—a record plunge—as traders scrambled to adjust.
Still, Trump exempted copper scrap and refined input materials, insulating manufacturers while hammering speculators.
“This has badly deviated from market expectations,” said Li Xuezhi of Chaos Ternary Futures Co. “Trump just wiped out weeks of bullish positioning.”
🇧🇷 Brazil Hit Hard, but Strategic Sectors Spared
Brazil estimates 35.9% of its exports to the U.S. will face the 50% tariff, though exceptions were carved out for aircraft parts, orange juice, and energy products.
The move was widely viewed as political—a response to what Trump called a “witch hunt” against former Brazilian President Jair Bolsonaro.
Another 44.6% of Brazil’s goods will still face the standard 10% tariff, and 19.5% fall under Trump’s new 25%-50% band.
🇪🇺 U.S.–EU Deal: A Handshake With Unclear Terms
Trump and EU Commission President Ursula von der Leyen announced a trade agreement in Turnberry, Scotland, on July 27—but the deal’s exact contents remain murky.
U.S. version: “Historic structural reforms and strategic commitments.”
EU version: “Not legally binding.”
With tariffs on European wine and spirits jumping from 10% to 15% starting August 1, negotiations are expected to resume in the fall.
🧾 Trump’s Executive Orders: What’s Changing?
On Wednesday, Trump signed three executive orders reshaping U.S. trade rules:
- 50% Tariffs on semi-finished copper (starting Aug. 1).
- End of the De Minimis Rule: All imports under $800 will now be tariffed (from Aug. 29).
- Targeted Brazil Tariffs, excluding key sectors like energy and aviation.
⚖️ Trump Back in Court Over Tariff Authority
The legality of Trump’s sweeping tariff powers is once again being tested in the federal appeals court in D.C. A previous ruling struck down parts of his 2020 tariff policy, but was put on hold.
Small business coalitions and a dozen states are suing, arguing that Congress—not the president—must approve new tariffs.
Still, Trump remains defiant.
“If our Country was not able to protect itself by using TARIFFS, we would be DEAD,” he wrote on Truth Social.
🇺🇸 Trump’s Rationale: “America Is Rich Again”
Throughout the flurry of trade moves, Trump has remained focused on his campaign messaging: economic nationalism and job creation.
“ONE YEAR AGO, AMERICA WAS A DEAD COUNTRY. NOW IT IS THE HOTTEST COUNTRY ANYWHERE IN THE WORLD,” Trump posted.
He also claims tariffs will bring back manufacturing and boost federal revenue, positioning his economic strategy as an alternative to what he calls “globalist weakness.”
🚘 Automakers Feel the Pressure
German carmaker BMW, which has its largest plant in the U.S., says it will stick to full-year guidance despite the 15% EU auto tariff. But not all European automakers are as optimistic.
“Having a U.S. footprint gives us a buffer,” said BMW CFO Walter Mertl, “but this is still a major headwind for exports.”
🌐 Full List of Trump’s Current Trade Actions (As of July 31, 2025)
| Country | Tariff Rate | Deal Status | Notes |
|---|---|---|---|
| Mexico | 0–35% | Paused for 90 days | Autos and metals still affected |
| South Korea | 15% | Deal signed | $350B U.S. investment |
| India | 25% threat | Pending | Accused of cozying up to Russia |
| Brazil | 50% | Partially exempted | Aircraft parts & juice spared |
| EU | 15% | Handshake deal | Details still under negotiation |
| Canada | TBD | Stalled | Due to Palestine stance |
| Pakistan | TBD | Deal signed | Oil exploration project |
| Thailand/Cambodia | 36% → TBD | Deals reached | Post-ceasefire agreements |
| Taiwan | TBD | Close to deal | Unconfirmed |
📈 What It Means for You
For American consumers, this tariff wave could mean:
- Higher prices on imported goods
- Supply chain volatility, especially in metals and autos
- Investment shifts as companies reevaluate trade routes
For businesses: expect regulatory hurdles, fluctuating costs, and uncertain timelines for deals still in progress.
🤔 FAQs: Trump’s Tariffs and What Happens Next
🔹 Why did Trump give Mexico a 90-day reprieve?
To allow more time for a trade deal and prevent immediate economic fallout, especially given Mexico’s importance to U.S. supply chains.
🔹 Will prices go up in the U.S.?
Yes. Tariffs are taxes on imports, and costs often pass through to consumers—especially on electronics, vehicles, alcohol, and industrial metals.
🔹 What happens if no deals are reached?
Countries without trade agreements will face tariffs between 15% and 50% starting August 1, per Trump’s executive orders.
🔹 Can Trump legally do all this?
That’s being tested. Multiple lawsuits argue the president needs Congressional approval to impose tariffs. A court decision is expected soon.
🔹 Is this the same as the 2018–2019 trade war?
Yes and no. While the structure is similar—unilateral tariffs meant to force concessions—this time Trump is acting faster, more globally, and more aggressively.
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