Trump may ‘end up torpedoing’ the new NAFTA after threatening Mexico with a costly tariff
Mornings with Simi
English - May 31, 2019 19:25 - 6 minutes - ★★★★★ - 1 ratingBusiness News News Society & Culture Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
US President Donald Trump says he'll put tariffs on all goods from Mexico starting next month, a move that could blow up chances of ratifying the new North American free-trade agreement.
Trump says he wants Mexico to stop migrants from Central and South America from passing through on their way to the U.S. border. Unless it does, he says he'll tax all imports to the U.S. from Mexico starting June 10, with tariffs starting at 5% and increasing to 25% by October.
A week ago, the United States lifted tariffs on steel and aluminum from Canada and Mexico, which both countries said stood in the way of ratifying the new three-country trade deal they signed at the end of last year. The new tariffs Trump is threatening for Mexico would be much broader and end up higher than the ones he just took off. The new trade agreement doesn't kick in until it's approved by all three countries' national legislatures.
Foreign Affairs Minister Chrystia Freeland says U-S President Donald Trump's surprise move to slap tariffs on Mexican imports is a border issue between those two countries. She says Canada will continue the process toward ratifying the new North American free trade agreement and that Mexico is too.
Guest: Mark Warner
Principal council at M-A-A-W Law in Toronto
Canadian and American trade lawyer
US President Donald Trump says he'll put tariffs on all goods from Mexico starting next month, a move that could blow up chances of ratifying the new North American free-trade agreement.
Trump says he wants Mexico to stop migrants from Central and South America from passing through on their way to the U.S. border. Unless it does, he says he'll tax all imports to the U.S. from Mexico starting June 10, with tariffs starting at 5% and increasing to 25% by October.
A week ago, the United States lifted tariffs on steel and aluminum from Canada and Mexico, which both countries said stood in the way of ratifying the new three-country trade deal they signed at the end of last year. The new tariffs Trump is threatening for Mexico would be much broader and end up higher than the ones he just took off. The new trade agreement doesn't kick in until it's approved by all three countries' national legislatures.
Foreign Affairs Minister Chrystia Freeland says U-S President Donald Trump's surprise move to slap tariffs on Mexican imports is a border issue between those two countries. She says Canada will continue the process toward ratifying the new North American free trade agreement and that Mexico is too.
Guest: Mark Warner
Principal council at M-A-A-W Law in Toronto
Canadian and American trade lawyer