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Tariffs Would Undermine Mexico Economic Growth Prospects
Escalating trade tensions between Mexico and the U.S. will disrupt Mexican economic growth, which has already shown signs of deceleration, says Fitch Ratings. These tensions could also delay approval of the United State-Mexico Canada (USMCA) trade agreement. On May 30, U.S. President Trump announced a 5% tariff on all imported goods from Mexico starting June 10 to force action on immigration from Mexico's administration. In a statement following the initial remarks, he said that tariffs would be raised to 10% on July 1 if the crisis persists and then by an additional 5% each month until reaching 25% on Oct. 1. The ... (full story)