US President Donald Trump said on Friday night that his country has reached a signed agreement with Mexico to avert the threat of tariffs on all Mexican imports next week.

"The Tariffs scheduled to be implemented by the US on Monday, against Mexico, are hereby indefinitely suspended," Trump tweeted.

"Mexico, in turn, has agreed to take strong measures to stem the tide of Migration through Mexico, and to our Southern Border," he said, adding that details of the agreement will be released shortly by the State Department.

Last week, Trump threatened to impose a 5-percent tariff on all imported Mexican goods beginning June 10 to pressure the country to stop the flow of undocumented migrants crossing the border, and to gradually increase tariffs until the problem is remedied, drawing extensive criticism both at home and abroad.