Trump delaying tariffs on imports for a month, Mexico's president says

US President Donald Trump has delayed the implementation of tariffs on imports from Mexico for one month, according to Mexico's President Claudia Sheinbaum. Trump had previously announced a 25% import tax on Mexican goods, set to begin on Tuesday, along with tariffs on goods from Canada and China.

Following Trump's confirmation of the tariffs, US stock markets experienced a decline on the first trading day. Asian markets also saw losses on Monday, and European markets dropped soon after opening.

Trump has cited various reasons for the tariffs, including border security, drug trafficking, and trade imbalances. In addition, he warned that he would "definitely" impose tariffs on the EU, although he suggested a potential deal could be reached with the UK. Canada has already implemented retaliatory tariffs in response.