Chinese companies looked to Mexico more than most. Their investment in the country has surged. Mr Trump (who has already threatened to apply a tariff of 25% to Mexican imports “on day one” unless it stops migrants and drugs from illegally crossing the border) believes those firms are using Mexico as a tariff-free gateway to the United States.
The three countries under threat of new or increased tariffs by President-elect Donald Trump have not reacted kindly to the bad news.
Business leaders in Mexico say the incoming U.S. administration will enhance the appeal of their factories as an alternative to plants in China.
MEXICO CITY - Mexico's tax authority SAT issued new tariffs on Tuesday, which it said will strengthen the surveillance of goods from Asia, a measure that could impact popular online retailers like Shein and Temu.
China countered U.S. President-elect Donald Trump’s claims about the Panama Canal. Brazilian labor authorities uncovered “slavery-like conditions” at a construction site for Chinese
President-elect Trump talked tough on tariffs on his way to securing a resounding win for Republicans in November, and now businesses are preparing for a trade war that could eclipse the one that
US wins multibillion-dollar cross-border corn dispute with Mexico; China-based carrier launches new ship for Mexico trade route; Volkswagen moves Golf vehicle manufacturing to Mexico; and Parts Town opens Phoenix area distribution center.
Mexico's tax authority said the tariffs will strengthen the agency's battle against abusive importing practices and tax evasion.
The president-elect would hurt U.S. consumers and businesses, while creating a new opportunity for China. He's likely to alienate some core supporters.
One of Trump's main promises was to increase tariffs on imported products, which would lead to an increase in what you pay at the supermarket checkout.
Mexico's tax authority SAT issued new tariffs on Tuesday, which it said will strengthen the surveillance of goods from Asia, a measure that could impact popular online retailers like Shein and Temu.