Mexico warns that U.S President-Elect Donald Trumps tariff increase would kill four hundred thousand U.S jobs. The economy Minister Marcelo Ebrard also warns that they will retaliate.
Mexico says that the proposed tariffs of 25 percent for import goods by U.S. President Elect Donald Trump would severely impact U.S. jobs, raise consumer prices, and disrupt key industries like the automotive manufacturing. Aswell as affecting US companies the move will impact other countries such as Canada and China.
Now Mexico warns they could retaliate.
Mexican Economy Minister Marcelo Ebrard said during a press conference that the impact of a 25% tariff hike would be significant, explaining that if the tax were imposed on the companies along with many others, it could affect 400,000 jobs in the United States.
Ebrard also says that the tariffs could violate the The United States-Mexico-Canada Agreement trade deal and harm US companies in Mexico. The proposed tariffs, which Trump claims are aimed at curbing drugs and migration, could also increase vehicle prices by $3,000.
In Canada, the federal government and provincial leaders have united in opposition to Trump’s proposed tariffs. Finance Minister Chrystia Freeland emphasized that Canada would respond in a coordinated manner, stating that the country must work together, remain strong, and tackle the challenge intelligently. She highlighted that discussions focused primarily on the border and the Canada-US trade relationship.
Meanwhile, with China, Trump proposes a 10% tariff on Chinese products. He argues that the tariffs are essential to combat illegal immigration and drug trafficking, despite border apprehensions reaching four-year lows.
China’s state media has praised U.S. companies like Apple and Tesla for strong collaboration with Chinese partners, as Trump moves forward with his tariff plans. The Chinese embassy official warned that no one will win a trade war.
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U.S. President Donald Trump said on Monday that there is a good chance” of reaching a deal with Iran, but warned that Washington would resume military operation if negotiations fail.
Iran will halt its own attacks as long as the United States maintains its pause on strikes, but Tehran remains sceptical of U.S. intentions, a senior Iranian source told on Sunday.
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