US Announces Next Round of Tariffs, This Time on Mexico - Forex News by FX Leaders
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US Announces Next Round of Tariffs, This Time on Mexico

Posted Tuesday, May 7, 2019 by
Arslan Butt • 1 min read

Even while trade tensions between US and China build up once again over Trump’s latest tariff hike announcement, US plans to start imposing 17.5% tariffs on Mexican tomatoes starting on Tuesday. The latest round of tariffs comes on the back of an inability to renew an older trade agreement from 2013 which led to suspension of an anti-dumping investigation by the US.

Back in February, the US Commerce Department had announced its plans to resume this investigation into Mexican tomatoes and withdrawing from a suspension agreement with Mexican authorities. The department offered a 90-day notice before ending the previous arrangement.

These tariffs starting from today will continue until both countries can formalize a new suspension agreement. This move will impact Mexican exports worth around $2 billion to the US.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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