Markets await clarification of details to the U.S. Mexican deal

An immigration agent checks IDs at a checkpoint on a road in Tuxtla Chico

Hours earlier, the President had tweeted, "We have fully signed and documented another very important part of the Immigration and Security deal with Mexico, one that the USA has been asking about getting for many years".

The Trump administration has been prodding Mexico to enter into a "safe third country" agreement, which would deem Mexico a safe place for migrants and make it more hard for migrants from Central America to pass through the country and claim asylum at the U.S. border.

There was no specific migration reduction target, Ebrard said, noting that when he began talks in Washington last week to defuse the tariff threat, the US government wanted Mexico to accept a "safe third country" agreement over migration. He added that the details of the agreement will be revealed sometime soon, and it will have to be approved by Mexican lawmakers.

But on Monday, President Trump warned that tariffs were not off the table completely, saying that if the part of the deal which required approval by Mexico's congress was not passed, the tariffs would be reinstated.

Mexican Foreign Minister Marcelo Ebrard said Brazil, Panama, and Guatemala may need to be brought in to help if a deal unveiled last week between Washington and Mexico fails to reduce the numbers of USA -bound migrants crossing Mexico.

Even when Brennan asked her for a third time whether Mexico agreed to any transactions in the agricultural sector as a part of the US-Mexico deal, the ambassador only said she can forecast that trade between the two countries will increase "dramatically" in the coming months.

Over the weekend, Trump also claimed another new element of the deal, tweeting that Mexico had "AGREED TO IMMEDIATELY BEGIN BUYING LARGE QUANTITIES OF AGRICULTURAL PRODUCT FROM OUR GREAT PATRIOT FARMERS!"

US President Donald Trump has declared "We have great wine, too".


In May, more than 132,000 people were apprehended at the southern border, according to US Customs and Border Protection, the highest monthly number in the past 13 years.

The White House did not respond to inquiries about Trump's tweets.

In response, Trump said Washington will not impose tariffs on Mexican imports, as threatened in May. "We now have Mexico doing more than the Democrats who work behind me on Capitol Hill on securing our southern border", Conway said.

"Mexico, in turn", he continued, "has agreed to take strong measures to stem the tide of Migration through Mexico, and to our Southern Border".

Acting Homeland Security Secretary Kevin McAleenan, speaking on "Fox News Sunday", also insisted "all of it is new", including the agreement to dispatch around 6,000 National Guard troops - a move Mexico has described as an "acceleration".

But the deal announced last Friday made no mention of that issue.

USA stocks were higher on Monday after the deal, easing worries about the impact of another trade war on the global economy. That demand was put on the table again by United States negotiators last week, but was not accepted by Mexico.

Three sources with knowledge of the talks told Bloomberg that increasing goods purchase from the USA weren't discussed during the three-day talks.

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