No Tariffs on Mexico - s/b good news for energy sector
Posted: Sat Jun 08, 2019 12:05 pm
WASHINGTON — President Trump backed off his plan to impose tariffs on all Mexican goods and announced via Twitter on Friday night that the United States had reached an agreement with Mexico to reduce the flow of migrants to the southwestern border.
Mr. Trump tweeted the announcement only hours after returning from Europe and following several days of intense and sometimes difficult negotiations between American and Mexican officials in Washington. "I am pleased to inform you that The United States of America has reached a signed agreement with Mexico. The Tariffs scheduled to be implemented by the U.S. on Monday, against Mexico, are hereby indefinitely suspended. Mexico, in turn, has agreed to take strong measures to stem the tide of Migration through Mexico, and to our Southern Border. This is being done to greatly reduce, or eliminate, Illegal Immigration coming from Mexico and into the United States. Details of the agreement will be released shortly by the State Department. Thank you!"
The president’s threat that he would impose potentially crippling tariffs on the United States’ largest trading partner and one of its closest allies brought both countries to the brink of an economic and diplomatic crisis — only to be yanked back from the precipice nine days later. The threat had rattled companies across North America, including automakers and agricultural firms, which have built supply chains across Mexico, the United States and Canada.
Businesses had warned that the tariffs would increase costs for American consumers, who import everything from cucumbers to refrigerators from Mexico, and prompt retaliation from the Mexican government in the form of new trade barriers that would damage the United States economy.
From Trump on Saturday morning: "MEXICO HAS AGREED TO IMMEDIATELY BEGIN BUYING LARGE QUANTITIES OF AGRICULTURAL PRODUCT FROM OUR GREAT PATRIOT FARMERS!"
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Let's see if Mexico lives up to their agreement to close their southern board, which should significantly reduce the flow of immigrants coming through Mexico and walking into the U.S.
Mr. Trump tweeted the announcement only hours after returning from Europe and following several days of intense and sometimes difficult negotiations between American and Mexican officials in Washington. "I am pleased to inform you that The United States of America has reached a signed agreement with Mexico. The Tariffs scheduled to be implemented by the U.S. on Monday, against Mexico, are hereby indefinitely suspended. Mexico, in turn, has agreed to take strong measures to stem the tide of Migration through Mexico, and to our Southern Border. This is being done to greatly reduce, or eliminate, Illegal Immigration coming from Mexico and into the United States. Details of the agreement will be released shortly by the State Department. Thank you!"
The president’s threat that he would impose potentially crippling tariffs on the United States’ largest trading partner and one of its closest allies brought both countries to the brink of an economic and diplomatic crisis — only to be yanked back from the precipice nine days later. The threat had rattled companies across North America, including automakers and agricultural firms, which have built supply chains across Mexico, the United States and Canada.
Businesses had warned that the tariffs would increase costs for American consumers, who import everything from cucumbers to refrigerators from Mexico, and prompt retaliation from the Mexican government in the form of new trade barriers that would damage the United States economy.
From Trump on Saturday morning: "MEXICO HAS AGREED TO IMMEDIATELY BEGIN BUYING LARGE QUANTITIES OF AGRICULTURAL PRODUCT FROM OUR GREAT PATRIOT FARMERS!"
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Let's see if Mexico lives up to their agreement to close their southern board, which should significantly reduce the flow of immigrants coming through Mexico and walking into the U.S.