Mexican President Claudia Sheinbaum and US President Donald Trump have agreed to extend a trade deadline by a few weeks to continue discussions on pending issues with Washington. Sheinbaum said on Monday that she spoke with Trump on Saturday. In July, the US agreed to pause a planned increase in tariffs on some Mexican goods from 25 percent to 30 percent for 90 days while negotiations continued on a new trade deal. That pause was set to end this week. Sheinbaum said she wanted to ensure that November 1 would arrive without unresolved communication. “We were in agreement that our teams were still working,” she said during her morning press conference. She added that both countries are working to resolve 54 outstanding trade barriers. “We’re practically closing this issue,” Sheinbaum said. Following her comments, Mexico’s peso strengthened 0.29 percent to 18.38 per US dollar. Mexico has avoided most of the Trump administration’s tariff pressures thanks to the 2020 United States-Mexico-Canada Agreement (USMCA), which is up for review next year. Earlier this month, Sheinbaum expressed confidence that Mexico would reach a favorable trade deal with the US. She also mentioned plans to reveal new projects in electric vehicles, semiconductors, satellites, drones, and an artificial intelligence lab. “We continue working, and there is no situation in the near future where there could be any special tariff on November 1st,” Sheinbaum said. Last week, Trump announced that he was ending trade talks with Canada, citing frustration with the progress of negotiations. Despite that, Mexico and the US continue to coordinate on trade issues, aiming to finalize agreements that benefit both nations. The extension of the trade deadline provides additional time for both countries to address pending concerns, maintain stable economic relations, and avoid abrupt tariff increases that could affect key sectors in Mexico.