U.S., Mexico Officials Begin Talks Over Threatened Tariffs.Friday, June 7, 2019
(North American Meat Institute)
U.S. and Mexico officials met in Washington DC today after President Trump threatened a 5% tariff on all Mexican imports starting June 10, which would increase by 5% each month up to 25% by October. The threat came as a result of Trump's frustration with the flow of migrants making their way to the U.S. border. Mexico has floated the idea of retaliation if the aforementioned tariff was to be implemented, but would prefer a negotiated solution with the U.S., according to Mexican Economy Minister Graciela Márquez. Márquez said that Mexico would likely retaliate with tariffs on selected U.S. goods or resort to the World Trade Organization if the U.S. implements any tariffs.
"We're evaluating those possibilities. We're getting prepared but we trust that diplomacy and actions to persuade and convince to maintain integration and trade relations will work," Márquez said. "We don't want to use tariffs to damage value chains, or to damage the creation of jobs, or damage investment, rather we want free trade to prevail in North America."share on facebook share on twitter