Economy

Hope grows for deal to ward off Trump's tariffs on Mexican imports

Hope grows for deal to ward off Trump's tariffs on Mexican imports

This time, the target is Mexico: Trump plans to impose 5% tariffs on Mexican imports starting June 10 and to ratchet them up to 25% by October 1 if the Mexicans don't do more to stop the surge of Central American migrants across the southern US border.

Even as he fights a trade war with China, Trump has threatened to start the tariffs on Mexico next week and then increase them to as high as 25% later this year if the Mexican government does not do more to stop the migrants.

Ebrard said, however, that a proposal favored by some USA officials to designate Mexico a "safe third country", which would force Central Americans seeking asylum in the United States to apply for it instead in Mexico, was not an option.

Mexico is the United States' largest trading partner, accounting for 15 percent of the total goods America trades, or a little more than $150 billion, according to data from the U.S. Census Bureau compiled by Statista and shown in the chart below. The president, who calls himself "a Tariff Man", has slapped the levies on imported steel, aluminum, dishwashers and solar panels.

"Where a pocket is located, what kinds of trim are attached, whether it's button or snaps - all of these things might enter into the kinds of decisions that go into tariff engineering", he says.

"I think the administration ought to be concerned about another vote of disapproval on another national emergency act, this time trying to implement tariffs".

But Trump pointed to his approval among Republicans, a significant part of which stems from his hard stance on securing the southern border, as a deterrent to GOP dissent.

A Deutsche Bank analysis of the tariffs' potential effects on the US auto industry estimated General Motors would take a $6.3 billion hit before interest and taxes with a 25 percent tariff; Fiat Chrysler Automobiles' hit would be $4.8 billion; and Ford Motor Co.'s would be $3.3 billion, Automotive News reported.

Mr Trump, who is on a state visit to the United Kingdom, said Republicans would be "foolish" to try and stop him.

More news: Main parties take hammering in United Kingdom poll

Trump claimed "millions of people" are entering the USA through Mexico and criticized congressional Democrats for not passing new laws. Instead, she told reporters about the planned discussion over the United States-Mexico-Canada Agreement, noting that Democrats reiterated they want to get to "yes" on the trade deal but that their concerns about enforcement, treatment of workers, the environment and pharmaceutical provisions needed to be addressed first.

Any measure that Congress adopts to counteract the tariffs would have to pass the House and Senate by a two-thirds margin to override a likely veto from Trump, said Edward Alden, a Council on Foreign Relations trade expert.

Sen. Dianne Feinstein said in a statement that the tariffs, "will be particularly bad for California".

"There is not much support in my conference for tariffs, that's for sure", said Senate Majority Leader Mitch McConnell after the lunch.

Republican Gov. Doug Ducey generally opposes tariffs but has avoided criticizing Trump's threat, saying national security is more important than commerce.

Mexico has begun a vigorous offensive to avert the USA tariffs. Senators worry they would spike USA consumers' costs, harm the economy and imperil a major pending US-Mexico-Canada trade deal. On Tuesday, Mexico's trade negotiator Jesus Seade was meeting with U.S. Trade Representative Robert Lighthizer, and Ebrard will meet Wednesday with Secretary of State Mike Pompeo. "We'd better get a legal answer".

"We're going to see if we can do something but I think it's more likely that the tariffs go on", he said, describing immigrants entering the United States illegally as an "invasion". "Now they're going to raise prices?"

Mexican President Andrés Manuel López Obrador has said he does not want "confrontation".


  • Barty and Keys progress to last eight of French Open

    Barty and Keys progress to last eight of French Open

    The three-time champion mounted a second set fightback to break Kenin's serve for the first time to draw the scores level at 3-3. She will face Spanish qualifier Aliona Bolsova , ranked at 137, who saw off Russia's Ekaterina Alexandrova 6-2, 7-5.
    Real Madrid have completed the signing of Luka Jovic from Eintracht Frankfurt

    Real Madrid have completed the signing of Luka Jovic from Eintracht Frankfurt

    While Barcelona did not end up pursuing a move, Real Madrid did launch the offensive over a reported €60 million deal . We wish Luka all the best in the future. "And we are proud that we have supported him on his way".
    YouTube, Snapchat, Gmail experiencing connection issues in eastern US

    YouTube, Snapchat, Gmail experiencing connection issues in eastern US

    An outage tracker is showing a progressively higher incidence of problems experienced by users on Australia's east coast. The not also stated Google believes it had identified the cause of congestion and expected a prompt return to service.
  • U.S.  diplomat Pompeo holding talks with Dutch government

    U.S. diplomat Pompeo holding talks with Dutch government

    He said Switzerland would be pleased to serve as an intermediary, but not a "mediator", between the United States and Iran. Pompeo declined to comment on whether he had made a specific request to the Swiss about the detainees.
    Priyanka Chopra blames racism for 'unfortunate' scrutiny of Duchess of Sussex

    Priyanka Chopra blames racism for 'unfortunate' scrutiny of Duchess of Sussex

    Recently, Priyanka has shared a post on her Instagram handle which has sent her fans into a frenzy. "Oh my God. It was reported that the fallout was why Priyanka missed Meghan's highly publicised NY baby shower.
    Call Of Duty: Modern Warfare Release Date Announced

    Call Of Duty: Modern Warfare Release Date Announced

    This could be a reference to the epilogue in the original Modern Warfare , but it could also be a completely unrelated scene. It was accounted for by PC Gamer that in this game you will play as a Special Forces operator and as a renegade.
  • The top-specced Mac Pro could cost around $45,000

    The top-specced Mac Pro could cost around $45,000

    The monitor can produce 1000 nits of full-screen sustained brightness and, for peak conditions, can go as high as 1600 nits. With the activation lock turned on, nobody will be able to use a stolen Mac ever, until you input your credentials.
    Xiaomi Shows Off Its Under-Display Front Camera

    Xiaomi Shows Off Its Under-Display Front Camera

    When you're taking a photo with these phones, the section of display over the camera becomes transparent, allowing light to pass. Chinese smartphone manufacturer Oppo has teased a new solution for combining a front-facing camera with a bezel-less display.
    A second election for Israel

    A second election for Israel

    Netanyahu's rough week also spells trouble for the Trump administration's Middle East peace plan , which Kushner is spearheading. At the same time, Netanyahu faces the likelihood of prosecution in three criminal cases against him.
  • Mexico's president open to negotiating with U.S.  over Trump's tariff threat

    Mexico's president open to negotiating with U.S. over Trump's tariff threat

    Some U.S. business organizations warned that the tariffs threat on Mexican imports would only hurt U.S. business and families. In this May 30, 2019, photo, President Donald Trump talks with reporters on the South Lawn of the White House in Washington.
    Enormous, 11-Foot Alligator 'Breaks Into Home' at 3 AM in Florida

    Enormous, 11-Foot Alligator 'Breaks Into Home' at 3 AM in Florida

    Officers and a trapper safely captured the intruder, according to the Clearwater Police Department . An unwanted overnight visitor was removed from a home on Eagles Landing in #Clearwater .
    Oil prices fall as USA  stockpiles grow

    Oil prices fall as USA stockpiles grow

    The Mexico trade dispute adds to a trade war between the United States and China, which many analysts expect to trigger a recession.