Mexico hits back on U.S. steel, slaps tariffs on pork, bourbon

June 5, 2018

Mexico responded in kind to U.S. President Donald Trump's metals tariffs by imposing its own duties on American steel on Tuesday, while also targeting politically sensitive agricultural products from pork to bourbon.

Mexico's peso tumbled to its weakest level since February 2017, leading losses among major currencies due to the rising trade tensions between the two neighbours...

As of Tuesday, Mexico will impose tariffs of 15 per cent to 25 per cent on U.S. steel products, the Mexican economy ministry said in a list published in the government's official gazette.

The list also included a 20 per cent tariff on U.S. pork legs and shoulders, apples and potatoes and 20 to 25 per cent duties on types of cheeses and bourbon. Separately, Mexico opened a tariff-free quota for pork imports from other countries...

This has been excerpted from the 5 June 2018 edition of CBC News.

Topic(s)

Trade Agreements

Information source

Canadian News Channel

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