Tariffs he had threatened to impose today were "indefinitely suspended" after Mexico said that it would send 6,000 national guard troops to its southern border to prevent migrants from Central America fleeing north. Mexico, however, had already meant to do that before Trump's latest threat and had made that clear to US officials.
Trump said on Monday afternoon Mexico would soon announce an "undisclosed portion" of the deal that would have to be taken up by the Mexican Congress.
There has been confusion and consternation on both sides of the border after Trump earlier Monday claimed the United States signed what he calls "another very important part of the Immigration and Security deal with Mexico".
The article, titled "Mexico Agreed to Take Border Actions Months Before Trump Announced Tariff Deal", suggested that Trump may have touted Friday's deal as a way to "save face" despite not actually making any headway.
Stock markets around the world rose on Monday while U.S. Treasury prices fell after the United States shelved the tariff plan, easing worries about the impact of another trade war on the global economy.
"I am pleased to inform you that The United States of America has reached a signed agreement with Mexico", he tweeted.
Friday's agreement would see the United States immediately expand the implementation of the MPP across its entire 2,000-mile (3,220-km) southern border, the State Department said on Friday. They include the deployment of 6000 Mexican soldiers to the southern border with Guatemala and allowing Central Americans to wait in Mexico until their asylum claims, most of which are fraudulent, are processed.
The claim was contradicted on Monday by Mexico's foreign minister, who said that Mexico was already planning to send 6,000 National Guard troops to the Mexico-Guatemala border but that, as a result of the deal with the USA announced Friday, that deployment is now happening faster.More news: McIlroy moves into share of lead at Hamilton
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Another part of the deal was Mexico's agreement to deploy 6,000 National Guard servicemen to Mexico's southern border and across the country in order to curb the influx of immigrants crossing into the United States illegally.
But it was business as usual over the weekend at the busiest crossing point along Mexico's porous southern border with Guatemala.
Numerous migrants and refugees are families trying to escape poverty and violent crime in Central America, one of the most impoverished areas in the Western Hemisphere. But the president is not backing down from his initial threat, warning that should the deal not receive support in a vote from Mexican leadership, he'll go right back to tariffs.
Mr. Trump bristled at those naysayers and said he would prove them wrong.
The White House did not respond to a question about what the president made reference to, and neither Trump nor his counselor Kellyanne Conway would say during television interviews on Monday morning what undisclosed terms were part of the agreement.
Mexico also agreed to take back more Central American asylum seekers who cross their territory en route to the U.S. That is an expansion of the Migration Protection Protocols, a program that the U.S. announced a year ago that has been tried on a small basis but will now be in effect borderwide. Asked repeatedly about such a deal on CBS on Sunday, the Mexican ambassador to the United States, Martha Bárcena Coqui, said only that trade would increase without the tariffs. He did not offer more details.
She noted Mexico was already a top USA trade partner in agricultural products.
In total, there are 39 new cars and trucks built by USA companies in Mexico and imported to the States.