Mexico to impose tariffs on United States goods

China-US-TRADE-DIPLOMACY

China-US-TRADE-DIPLOMACY

Billionaire conservative icon David Koch is stepping down from the Koch brothers' network of business and political activities. Economy Minister Ildefonso Guajardo said his country would now "surely" look to Europe for pork products, used in many traditional dishes in Mexico.

It wasn't immediately clear how such an arrangement would work.

According to Hernandez, tariffs will not result in a price spike in Mexico since the country has other markets to buy from. Changes would have to be agreed by all sides. Canadian Prime Minister Justin Trudeau told NBC's "Meet the Press" program in an interview that aired Sunday he sees the imports as "insulting".

Canada has powerful new allies in the fight against Donald Trump's punishing tariffs: a pair of ultra-rich Republican financiers now mobilizing against the US president.

Mexico is levying import taxes on USA exports of various steels and food products, including pork bellies, blueberries, apples, grapes and cheeses.

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Numerous products targeted are produced by exporters in states that are politically important to United States President Donald Trump.

"When you have to compromise with a whole bunch of countries, you get the worst of the deals", Kudlow said. Mexico, Canada, China and others have treated them unfairly.

Canada said proportional duties would be imposed on USA steel, aluminium and consumer goods from July 1, while Brussels is also preparing tariffs on U.S. products including bourbon, motorcycles and blue jeans.

Mexico's list of products that will be subject to the charges also includes US steel plates, bars, rods and rolled steel.

Now it all depends on whether the United States will give up its plan to impose additional tariffs on Chinese goods on June 15.

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Secretary of Defense James Mattis issued a memorandum that concurred with Commerce's overall findings but expressed concern over the effect of the proposed actions on key us allies, and it estimated that the Department of Defense's need for steel only represent about 3 percent of usa production. But the president defended his actions saying the United States would soon be in a stronger position with its top trading partners.

In 2017, USA exports to China were valued at $130.4 billion, meaning China´s offer would amount to a 53.8 percent increase.

The president of the U.S. National Pork Producers Council, Jim Heimerl, said Mexico accounted for almost 25 percent of all pork shipments a year ago, adding that "a 20 percent tariff eliminates our ability to compete effectively in Mexico". "Ongoing negotiations are a good sign and are certainly better than a tariff war".

Malmström said that the United States "closed the door" following the European Union offers.

Ross has called that system "a joke" (a dubious judgment considering the overall success the United States has had in it since its creation).

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Even with the weekend's developments, all the trade talks appear to be moving slowly or stalling, leading to angst on Capitol Hill and among business leaders. For example, Republican Senator Marco Rubio (one of Trump's competitors for the 2016 presidential nomination) tweeted, "Sadly #China is out-negotiating the administration & winning the trade talks right now". This can hurt economies and lead to rising political tensions. He is not going to withdraw from NAFTA.

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