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Mexico opposed to US tariffs: economy minister


Mexico does not want President Donald Trump to impose taxes on imported Mexican goods,, that country’s economy minister said Friday, according to media reports, APA reports Anadolu Agency.

 

Tariffs are "a move to the past" and adding them "makes no sense", Ildefonso Guajardo said in an address to the Detroit Economic Club.

 

Trump promised to place a 35 percent border tax on imports from Mexico before suggesting a 20 percent tariff on Mexican goods that would pay for a U.S.-Mexico border wall he intends to build.

 

Withdrawing the U.S. from the North American Free Trade Agreement, or NAFTA, is another promise from Trump, who sees existing trade deals unfair to American workers.

 

Guajardo said his country is willing to start negotiations with the U.S and is looking forward to updating NAFTA.

 

The economy minister is reportedly scheduled to meet with executives from GM and Ford during his stay in Detroit.

 

Trump threatened American automakers would face higher border taxes if they build cars in Mexico and exported them to the U.S.

 

Mexican Foreign Affairs Secretary Luis Videgaray earlier this week said his country would reject any tariffs.

 

Mexico is Michigan's second biggest export market.

 

The American state exported more than $12 billion in goods to Mexico in 2016, according to the Mexican government.

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