Mexico prepares tariffs against US products and arms common front with Canada

“We are in the process of preparing new tariffs in retaliation (…) We still can not reveal the new components,” said Secretary of Economy.

 Mexico is finalizing the new list of US products that will be subject to tariffs in retaliation for Mexican steel and aluminum taxes applied by the Trump administration, and whose details would be available soon, the economy secretary said on Tuesday.

Both Mexico and Canada have imposed retaliatory measures on billions of dollars in products from the United States. Mexico said in March that it would renew its list of products to focus on the agricultural and industrial sectors.

The head of the Ministry of Economy of Mexico, Graciela Márquez Colín, and the Undersecretary for North America of the Mexican Foreign Ministry, Jesús Seade, traveled to Toronto, Canada, to meet with the foreign minister of that country, Chrystia. Freeland.

“We are in the process of preparing new tariffs in retaliation (…) We still can not reveal the new components,” Graciela Márquez told reporters in Toronto after meeting with the Foreign Minister of Canada, Chrystia Freeland.

“We can tell them that it will include economic considerations, as well as policies,” the Mexican official added when asked if Mexico will focus on the Democratic voter base.

Some Democratic leaders have expressed doubts about the ratification of a new regional trade agreement that the three nations of North America signed last year. Mexico rejects criticism from Democrats that the new pact needs stronger labor provisions.

When asked when the new tariffs would be ready, Márquez said the list design had been completed. Then you must go to the Ministry of Finance and the Ministry of the Interior (Segob). “Then it will take at least two or three weeks.”

Trade disputes with trading partners from North America, Canada and Mexico are taking place while the United States is also engaged in a trade war with the world’s second largest economy, China.

US President Donald Trump said on Tuesday that the trade war with China was “a small fight” and insisted that talks between the two countries had not collapsed.

Source: reuters

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