Mexico Warns Trump His Steep Tariffs Will Hammer US Economy
- Economy chief estimates that US job losses could top 400,000
- American automakers producing in Mexico will be most affected
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Donald Trump’s threat of 25% tariffs on Mexico and Canada would cost the US economy as many as 400,000 jobs and increase prices for American consumers, according to the Mexican government.
Economy Minister Marcelo Ebrard laid out the warning to the US president-elect on Wednesday during a press conference alongside President Claudia Sheinbaum. A veteran of confrontational North American trade talks during Trump’s first administration, he gave a presentation on how a new round of levies would affect the Mexico-US relationship.