MEXICO CITY, Feb 11, 2025 (BSS/AFP) - US President Donald Trump's tariff threats against Mexico are a bargaining tool and are unlikely to materialize, Mexico's richest person, billionaire tycoon Carlos Slim, said Monday.

"We already saw that the tariffs are a negotiation," Slim told a news conference.

On February 1, Trump announced 25 percent tariffs on goods imported from Mexico, accusing the country of not doing enough to stop illegal migration and fentanyl smuggling.

Days later, the Republican delayed them by a month after Mexican President Claudia Sheinbaum pledged to deploy 10,000 more troops to the border with the United States.

Slim said Trump is unlikely to impose tariffs in March because the Mexican government is cooperating with Washington.

"I don't see the president (Trump) changing his mind after 30 days," he said.

Trump and Sheinbaum "are fulfilling the telephone agreement they had," added Slim, who together with his family was worth around $79 billion as of Monday, according to Forbes.

Trump also paused tariffs on Canada, but went ahead with others on China, where products entering the United States now face an additional 10 percent levy.

And on Monday, Trump followed through on a promise to slap 25 percent tariffs on steel and aluminum imports.