US-Mexico Talks Ongoing, but Fail to Make Progress - Forex News by FX Leaders
US-Mexico Trade

US-Mexico Talks Ongoing, but Fail to Make Progress

Posted Thursday, June 6, 2019 by
Arslan Butt • 1 min read

Mexico is set for another round of talks with the US in a bid to avoid the new tariffs announced by the Trump administration. Talks between officials from both sides remained unsuccessful on Wednesday, with Trump even remarking that Mexico has not made enough progress on curbing illegal migration into the US through its borders.

Illegal immigration was one of the key issues in Trump’s 2016 Presidential campaign, but the US government has not managed to control it as much as Trump had expected to. Hence, the hard stand Trump took when he announced 5% tariffs on all Mexican imports which could rise all the way up to 25% until it did something to tighten its borders against migrants moving in via Central America.

Mexican Foreign Minister Marcelo Ebrard had met with US Vice President Mike Pence and Secretary of State Mike Pompeo on Wednesday, but Pence failed to be convinced about tangible measures that Mexico would implement immediately. Mexico is among the top three trading partners of the US and any tariff hikes could have a severe impact on the Mexican economy if they come into effect.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

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.
Related Articles
Comments
0 0 vote
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments