Trump鈥檚 tariffs 鈥榗ounterproductive鈥
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Mexico鈥檚 Foreign Minister Marcelo Ebrard warned yesterday that US President Donald Trump鈥檚 planned punitive tariffs on Mexico would be 鈥渃ounterproductive鈥 for cracking down on migrants but the White House reiterated that Trump鈥檚 threat is serious.
As markets reeled, officials on both sides said they thought a deal could be reached before potentially damaging tariffs on Mexican exports to the United States are put in place on June 10. Trump stepped up the pressure in a tweet.
鈥淎s a sign of good faith, Mexico should immediately stop the flow of people and drugs through their country and to our Southern Border,鈥 he said.
Earlier, Mexico鈥檚 President Andres Manuel Lopez Obrador said that it was important to resolve the issue 鈥渢hrough dialogue.鈥
鈥淲e are in favor of free trade, and we think an agreement can be reached,鈥 he said. 鈥淚 want to continue being friends with President Donald Trump.鈥
Mexico stunned
But after a meeting with Mexico鈥檚 Economy Minister Graciela Marquez Colin, US Secretary of Commerce Wilbur Ross issued a terse statement indicating Washington hadn鈥檛 budged.
鈥淚 reiterated the President鈥檚 message that Mexico needs to do more to help the US address immigration across our shared border,鈥 he said.
Trump stunned Mexico on Thursday by announcing that the US would place duties on all imports from Mexico, beginning at 5 percent on June 10 and rising to as high as 25 percent, unless Mexico halt migrants crossing into the US.
The announcement pummeled the Mexican currency and sent markets in both countries tumbling over fears of a sharp slowdown in trade and high prices for imported goods on both sides of the border.
Economists warned the Mexican economy could be pushed into recession if Trump followed through and that it could also affect US growth.
Ebrard, with Mexico鈥檚 agriculture secretary and other top officials, flew to Washington on Friday. He was expecting to meet this week with Homeland Security Acting Secretary Kevin McAleenan and Secretary of State Mike Pompeo.
Ebrard told reporters that Mexico had already prevented 250,000 migrants from traveling to the US border and that the only solution to the crisis is a comprehensive development plan for Guatemala, El Salvador and Honduras, where most of them come from.
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