US President Donald Trump said on Friday that he saw a “good chance” of a deal with Mexico to avert the threat of tariffs on all exports from Monday, tweeting that in exchange, Mexico would start large farm purchases immediately.

“If we are able to make the deal with Mexico, & there is a good chance that we will, they will begin purchasing Farm & Agricultural products at very high levels, starting immediately. If we are unable to make the deal, Mexico will begin paying Tariffs at the 5% level on Monday!,” Mr Trump tweeted ahead of his arrival back in the US from Europe later on Friday, as reported by Financial Times.

The US president gave no details and no one in the Mexican government could immediately comment.

Mexico is already the US’s third largest agricultural trading partner and the top export destination for US corn, wheat and rice as well as a big market for US sorghum.

US exports of agricultural products to Mexico totaled $20bn in 2018, the US’s 2nd largest agricultural export market, according to the US Trade Representative. Leading US agricultural exports to Mexico include include: corn ($3.1bn), soybeans ($1.7bn), dairy products ($1.4bn), pork & pork products ($1.3bn), and beef & beef products ($1.1bn).

The two countries are currently embroiled in a spat over Mexico’s tomato exports.