Published On: Thu, Mar 1st, 2018

Mexico plans retaliation if U.S. imposes steel Tariffs

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According to Bloomberg, Mexico will place retaliatory tariffs on U.S. goods if President Donald Trump includes it on a list of nations that would face steel tariffs, according to a person close to the Latin American country’s position.

Mexican Economy Minister Ildefonso Guajardo plans to discuss the issue with U.S. Commerce Secretary Wilbur Ross in a meeting in Washington on Wednesday, according to the person, who asked not to be named because the meeting is private. A 2009 trucking dispute, when Mexico imposed retaliatory tariffs on about 90 American products totaling $2.4 billion worth of annual exports, serves as an example of what Mexico can do, the person said.

The press office of the Mexican economy ministry declined to immediately comment.

 

The threat of retaliation follows a January recommendation from the U.S. Commerce Department for the Trump administration to impose tariffs or quotas on imports of aluminum and steel. The risk of a trade war comes as negotiators from the two countries and Canada meet to try and update the 24-year-old North American Free Trade Agreement before the Mexican election campaign heats up.

 

Click here for full article on Bloomberg

Source: Bloomberg

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