Mexico targets Trumpland with new tariffs

Mexico targets Trumpland with new tariffs

Mexico said on Monday that it will complain to the WTO over the USA measures, saying that it violates the organization's agreement on safeguards by not having been adopted in accordance with the procedures provided, in addition to violating the General Agreement on Tariffs and Trade.

According to Bloomberg, the country will slap tariffs of 25 percent on certain cheese products, steel and Tennessee whiskey while imposing taxes of 20 percent on pork, apples and potatoes.

The economy ministry said it will "initiate a dispute settlement process under the umbrella" of the WTO, and that its actions will "continue to follow the state of global commercial law and will be proportional to the damage that Mexico regrettably received".

Tariffs of up to 25 per cent were also imposed on steel products including plates, bars, rods and rolled steel.

Immediately following the move by Trump, Mexico said it would impose retaliatory duties on a variety of USA goods, including steel and a host of agricultural products including apples, cheeses and pork.

Victor Manuel Ochoa, chief executive of top Mexican pork producer Granjas Carroll, said he would support a temporary import deal for Brazilian pork legs if Mexico goes ahead with the tariffs on USA imports.

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Ottawa hit back with proportional C$16.6 billion (US$12.8 billion) in tariffs on United States steel and aluminium as well as consumer goods. The peso turned lower after White House National Economic Council Director Larry Kudlow said President Donald Trump was "seriously considering " splitting North American Free Trade Agreement talks into separate processes for Mexico and Canada.

Mexico has received backing in the dispute from its domestic business sector.

"It's a 20 percent (tariff) on legs and shoulders, fresh and frozen. with bones and without bones", said Heriberto Hernandez, president of Mexico's leading pork producers association OPORPA, following a briefing earlier on Monday with Economy Minister Ildefonso Guajardo and his team.

"It is very hard to reach a negotiation when measures of this nature are suddenly taken", the minister said.

According to The Journal report, Liu personally delivered this warning to Ross.

Last year, Mexico imported almost 650,000 tonnes of pork legs and shoulders worth an estimated $1.07 billion, according to government data.

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