Mexico seeks to neutralize Trump's tariff threat

Mexico seeks to neutralize Trump's tariff threat

Vehicle makers and farmers are among the Ohioans who could suffer if President Donald Trump makes good on his threat to impose tariffs on Mexican products unless its government does a better job keeping immigrants from crossing into the United States.

Ebrard reported talks centered more on migration matters than Trump's tariff threats - which would start 10 June at a rate of 5% and increase severely if migration numbers don't drop drastically. "The higher the Tariffs go, the higher the number of companies that will move back to the U.S.!" Mexican Foreign Minister Marcelo Ebrard, who was to meet with Pence, Secretary of State Mike Pompeo and others at the White House, said Tuesday he thought tariffs could be avoided. Trump, who's traveling in Europe, wasn't at the meeting.

USA livestock producers have already come under pressure as trading disputes with Mexico and China slowed pork exports previous year. That sent a negative signal to Asian markets ahead of Thursday's trading; part of Wednesday's rally on Wall Street was predicated on positive sound bites from Washington on tariff talks.

Trump this week said he is "more likely" than not to impose the new tariff next Monday, and ramp it up in 5% increments each succeeding month until Mexico controls the flow of migrants.

The peso has fallen by around 2.5% against the US dollar since Trump's tariff threat last week.

Mexican President Andres Manuel Lopez Obrador said he was optimistic the talks can end in an agreement. He said negotiations will continue "during the time that the tariffs are on and they're going to be paid".

Consultancy LMC Automotive said on Tuesday the industry could absorb a 5 percent percent tariff for a month, but that a sustained period at the 25 percent tariff level would have a potentially devastating impact on the auto industry and cut USA new vehicle sales by up to 1.5 million units annually.

USA border authorities have said they are overwhelmed not so much by the number of migrants but by a shift in the type of person turning up at the border.

The mid-sized Tacoma could suffer, because 65 percent of the pickups sold in the USA are imported from Mexico, the memo said.

More news: President Trump visits the United Kingdom and Ireland

Howe said that on Tuesday alone, CBP apprehended more than 4,100 people and had 19,293 people in custody.

Increasing numbers of Central American families and unaccompanied minors seeking asylum after fleeing criminal violence in their home countries have been turning themselves in to US border agents, who have always been geared up to catch mainly single, adult Mexicans trying to cross clandestinely.

Seven former United States ambassadors to Mexico City said in an open letter published by CNBC that Mexico had made real efforts to slow the migrants, and that tariffs would be counter-productive.

But with Mr Trump threatening to increase tariffs as far as 25 per cent, some senior Republicans are publicly voicing their concerns.

The group also raised concerns about what the tariffs would mean for a deal struck a year ago between the United States, Mexico and Canada to replace the North American Free Trade Agreement (NAFTA). The new trade pact, called the U.S. -Canada-Mexico agreement, was already at risk of stalling in Congress. Mexico's worldwide minister is leading a delegation to Washington this week to review out to defuse the enlighten with the Trump administration.

Pence has previously failed to thread the needle when acting as the president's surrogate in important negotiations.

USA border officers apprehended more than 132,000 people crossing from Mexico in May, the Trump administration said on Wednesday, the highest monthly total in more than a decade and reaching what officials said were "crisis" levels.

But McConnell declined to say outright whether his party would draft a measure to block Trump's duties from taking effect, in what would be the most dramatic act of Republican defiance since Trump took office in 2017.

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