US-Mexico Getting Ready for Trade Talks Before Next Tariff Hike
US and Mexican officials are getting ready for the next round of trade talks after Trump’s most recent threat to hike import duties on all Mexican goods until they curb illegal immigration. On Monday, Mexican Economy Minister Graciela Marquez will meet with US Commerce Secretary Wilbur Ross in Washington to start negotiations.
Last week, Trump had announced his plans to impose 5% tariffs on all Mexican goods starting from June 10 until Mexico reigned in the flow of illegal immigrants across the US-Mexico border. The tariffs are set to rise up to 25% until Mexico complies with Trump’s demands and tightens its borders.
On Sunday, Trump also tweeted against US businesses operating in Mexico, stating that he plans to impose taxes on companies that have shifted their factories and operations to Mexico until they bring back jobs to the US.
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