The firms invested billions of dollars on Mexican factories that make products for the American market, shipping goods tariff-free under a U.S. trade agreement now in peril.
President Trump has repeatedly singled out Mexico’s auto industry and its ties with Chinese manufacturers. American automakers import more than 40% of their parts from Mexico, many from Chinese-owned factories.
President Trump didn’t do homebuilders any favors by imposing a dramatic 54% tariff on China, a critical supplier of construction materials.
Mexican President Claudia Sheinbaum on Thursday celebrated the preferential tariff treatment Mexico receives under the US-Mexico-Canada Agreement (USMCA) after her country was excluded from U.S. President Donald Trump'ssweeping new tariffs.
With trade U.S. agreements in the balance, Mexican authorities make a show of stemming the flow of illegal imports from China.
The president unveiled rates that were much higher than most analysts expected against China, the E.U. and many other countries. Sources: White House, Observatory of Economic Complexity Notes ...
Punishing tariffs on Vietnam, Cambodia, Thailand and others in the region threaten their position as major manufacturing hubs for the American market.
What looked like a safe bet to move manufacturing supply chains out of China is turning out to be a nightmare for many big retail brands.
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