U.S. President Donald Trump said on Thursday that the United States will be talking to Mexico over the next 90 days with the goal of signing a trade deal.

Trump said in a Truth Social post after a phone conversation with Mexican President Claudia Sheinbaum.

"We have agreed to extend, for a 90 Day period, the exact same Deal as we had for the last short period of time," said Trump on the social media platform.

"We will be talking to Mexico over the next 90 Days with the goal of signing a Trade Deal somewhere within the 90 Day period of time, or longer," Trump added.

"We had a very good call with the President of the United States, Donald Trump. We avoided the increase in tariffs announced for tomorrow and achieved 90 days to build a long-term agreement based on dialogue," said Sheinbaum in a post on social media platform X.

Trump stressed the unique complexities of a deal with Mexico due to the shared border of the two countries. "We are getting to know and understand each other" more and more, said Trump.

In a letter posted on Truth Social on July 12, Trump threatened that 30 percent tariffs would be imposed on Mexico starting Aug. 1.