Economy

Mexico slaps 20 percent tariff on US apples

Mexico slaps 20 percent tariff on US apples

Trade with the U.S.is particularly important to Mexico because about 80% of its exports go to its northern neighbor whereas only around 16% of US exports come to Mexico.

Following news of the new Mexican tariffs, which take effect immediately, the peso tumbled to its weakest level since February 2017, making it one of the worst performers among major currencies.

On Tuesday, in fact, Mexico announced retaliatory tariffs on a range of USA products, including pork, cheese, apples, cranberries, whiskey and motorboats.

The US tariffs have been condemned by nations across the world, with Canada last week announcing it will impose tariffs on as much as C$16.6 billion (NZ$18.2 billion) of US steel, aluminium and other products from July 1.

"We support the position of the Mexican government to impose the equivalent measure on diverse products", Mexico's Business Coordinating Council said of the retaliatory tariffs.

Trump has frequently called out allies for being unfair on trade, arguing that they have high tariffs that block out American goods and lead to trade imbalances.

Now on Wednesday, the biggest piece of economic data set for release might make Trump a little bit less excited.

"It certainly casts a negative pall over the market", said CME livestock futures trader Dan Norcini.

Mexico imports so much US pork - almost one-third of what's consumed - that the government says it will waive tariffs on up to 350,000 tons of pork imported from other nations to avoid destabilizing the market.

"AFP-Kansas Foundation wishes David and his family well", Jeff Glendening, AFP Foundation Kansas state director, said in an e-mail to the Eagle.

In Minnesota, about 14 percent of the state's $7.1 billion of annual agricultural exports goes to Mexico, one of the state's top export markets, said Matthew Wohlman, Minnesota Department of Agriculture deputy commissioner.

China has warned it would cancel any promises over trade with the US if the Trump administration moves ahead with planned tariffs.

More news: Trump arrives in Houston to meet school shooting victims

For example, since 2001, free trade with China has cost millions of Americans their jobs.

In a radio interview this morning, foreign trade undersecretary Juan Carlos Baker rejected any claim that the tariffs amount to revenge on the United States, charging instead that Mexico was simply acting within its rights.

The United States and Mexico do $600 billion in annual trade and about 16 percent of US goods exports go to its southern neighbor.

Hernandez said he supported the Mexican government's decision and does not expect it to cause pork prices in Mexico to rise because "there are many alternatives" to US suppliers.

Mexico submits that the tariffs were not adopted in accordance with relevant WTO procedures and also violate the 1994 General Agreement on Tariffs and Trade.

The groups said they would advocate that Trump reduce or eliminate trade barriers by modernizing the North American Free Trade Agreement (NAFTA) and returning to the negotiating table on the Trans Pacific Partnership (TPP).

Mexico's list was created to hit at parts of the United States represented by high-profile Republicans, Mexican officials have said, including steel from Vice-President Mike Pence's home state of IN, motorboats from Sen.

"The use of the national security issue when you're talking about countries like Canada and the European Union, it doesn't make a heck of a lot of sense at all".

The U.S. side has linked lifting its tariffs to a successful outcome of the NAFTA negotiations.

"He's still deciding on what to do about Canada", said one senior administration official on the President's response to the request for leniency. "But we must understand that a Norway model is specifically created to serve the interests of Norway and would not work for the United Kingdom".

The three groups launching the campaign: Freedom Partners Chamber of Commerce, Americans for Prosperity and the LIBRE Initiative, are urging the president to lift the recent tariffs on aluminium and steel imports as well as the proposed tariffs on other imports from China.


  • LeBron says neither Cavs nor Warriors will visit White House

    LeBron says neither Cavs nor Warriors will visit White House

    According to CBS Sports , oddsmakers on Tuesday had the visiting Warriors tabbed as 4.5 point favorites to win on the road. West, arguably the best scorer of his era, scored 1,679 total points in the NBA Finals (nine appearances).
    Father of Irish champion Katie Taylor shot at boxing club

    Father of Irish champion Katie Taylor shot at boxing club

    Lightweight Katie Taylor won gold at the London Olympics in 2012 and is a world boxing champion. "Another dark day for Bray". The gunman stormed into the club just before 7am and shot one man who was on a training machine, critically injuring him.
    Kim summit time locked in for June 12

    Kim summit time locked in for June 12

    While Kim could decide to stay the night, or maybe even two, he might also be in a hurry to get back home, in which case the North wouldn't need a room so much as a base camp.
  • Qatar Airways CEO Akbar Al Baker's sexist comments don't fly

    Qatar Airways CEO Akbar Al Baker's sexist comments don't fly

    Baker, who recently became the chairman of the International Air Transport Association's ( IATA ) board of governors. SkyTeam appointed Delta executive Kristin Colvile as chief executive of the airline alliance earlier this month.
    How to Watch Apple's WWDC 2018 Keynote Live Stream on June 4

    How to Watch Apple's WWDC 2018 Keynote Live Stream on June 4

    It will be possible to group notifications from same app into one notification and customise notifications from the lock screen . On iOS 12, up to 32 people will be able to call into a FaceTime chat, which is probably unnecessary, but also pretty awesome.
    MacOS Mojave Fixes the Biggest Gripe I Have with the Mac

    MacOS Mojave Fixes the Biggest Gripe I Have with the Mac

    Bloomberg reported the planned change in December, but Apple hasn't talked about it publicly until Monday, when it gave a preview. The new macOS features were spotted by developer Steve Troughton-Smith in a 30-second preview video hidden on the Apple servers.
  • Godolphin win Epsom Derby for the first time as Masar triumphs

    Godolphin win Epsom Derby for the first time as Masar triumphs

    Dante victor Roaring Lion moved ominously well until the two furlong marker, and John Gosden's colt had to settle for third. It's my seventh or eighth Derby ride and I thought sometimes, 'Is it ever going to come?'
    Addicted to Your iPhone? Apple Screen Time Will Tell You

    Addicted to Your iPhone? Apple Screen Time Will Tell You

    Three of Apple's iconic, and rarely updated, apps have seen big changes in iOS 12 . iBooks, for example , is now Apple Books. If you own a Mac there's could be some new features coming to your desktop with macOS nearly certain to get a refresh.
    Apple TV is Adding Dolby Atmos Audio, 3rd Party Remotes, & More

    Apple TV is Adding Dolby Atmos Audio, 3rd Party Remotes, & More

    Now, 3 party remotes have worked with the Apple TV but have not had the official blessing and support of Apple in the past. In adding program apps, Apple TV will feature "Zero sign-on".
  • ME  man killed in hit-and-run ran over a girl in 1968

    ME man killed in hit-and-run ran over a girl in 1968

    The Portland Press-Herald reported that Parkhurst confessed five years ago to a 1968 hit-and-run that left a 4-year-old girl dead. Matthew Jones said they found no connection between Sharrow and Parkhurst and that they were "complete strangers".
    Novak Djokovic reaches 9th French Open quarterfinal in row

    Novak Djokovic reaches 9th French Open quarterfinal in row

    In the Open championship of France on tennis in the men's singles decided the first participants of the 1/8 finals . In the match of the tournament so far, the 21-year-old German was up against it trailing 2-1 to Damir Dzumhur.
    Mueller’s investigative team accuses former Trump campaign chair of witness tampering

    Mueller’s investigative team accuses former Trump campaign chair of witness tampering

    The person told investigators that he interpreted Manafort's efforts to reach him as a way to influence his potential statements. The individual then hung up "because he was concerned about the outreach", according to the affidavit.