Tariff on Mexico
Trump announces tariffs – to curb immigration into the US . U.S. goods and services trade with Mexico totaled an estimated $671.0 billion, Imports ware 371 Billion in 2018. Trump has accused the Mexican government of failing to do enough to crack down on the number of migrants entering the US . Trump told a news conference in London that Central American immigrants entering the United States from Mexico would likely force him to put 5% tariffs on Mexican imports. Toyota told Reuters tariffs on Mexican imports could cost the automaker’s major suppliers between $215 million and $1.07 billion,
Mexican President Andres Manuel Lopez Obrador told a news conference he was optimistic that a deal on tariffs and migration could be reached.
Facts : Mexican Import to US
Mexico is the US third largest Trading Partner. Exports were $299.1 billion; imports were $371.9 billion. U.S. foreign direct investment (FDI) in Mexico (stock) was $109.7 billion in 2017 The top import categories in 2018 were: vehicles ($93 billion), electrical machinery ($64 billion), machinery ($63 billion), mineral fuels ($16 billion), and optical and medical instruments ($15 billion) , agriculture 25.3 Billion ,