BCN-17 Mexico retaliates over US steel, aluminum tariffs

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ZCZC

BCN-17

US-TRADE-DISPUTE-MEXICO

Mexico retaliates over US steel, aluminum tariffs

MEXICO CITY, June 1, 2018 (BSS/AFP) – Mexico announced sweeping
retaliatory tariffs on a host of US goods Thursday after the United States
slapped steep tariffs on steel and aluminum from Mexico, Canada and the
European Union.

The Mexican economy ministry announced equivalent tariffs on goods ranging
from steel to lamps to apples, “up to an amount matching the level of impact”
from the US tariffs.

“Mexico deeply deplores and condemns the decision by the United States to
impose these tariffs,” it said in a statement.

“Mexico has stated repeatedly that this type of measure, based on national
security, is neither appropriate nor justified.”

Underlining the fact that Mexico is the top buyer of US aluminum and
second-largest buyer of US steel, it criticized the tariffs as counter-
productive.

“Steel and aluminum contribute to the competitiveness of various strategic
and highly integrated North American sectors, such as the auto, aerospace,
electricity and electronics industry, among others,” it said.

Mexican Foreign Minister Luis Videgaray added on Twitter that “Mexico
categorically condemns the protectionist measures” by the United States.

US Commerce Secretary Wilbur Ross announced earlier that President Donald
Trump had decided to slap tariffs of 25 percent on steel imports and 10
percent on aluminum imports from the EU, Canada and Mexico, justifying them
on the grounds of national security.

He said the exemption previously granted to Canada and Mexico was being
removed because talks on overhauling the NAFTA trade agreement between the
three countries — which Trump has called a “disaster” for the United States
— were “taking longer than we had hoped,” with no “precise date” for an
updated deal.

BSS/AFP/HR/0958