'The market is almost willing to tolerate it being imposed, but it will not tolerate it if it lasts,' says UBS' Cashin.
Trump announced last week he's putting a 5% tariff on all Mexican goods starting Monday ifdoesn't substantially limit or stop the number of migrants crossing into the U.S. The tariffs, if enacted, will go up incrementally to 25% by October. U.S.-Mexican talks are scheduled to resume Thursday.
A Mexican trade official told CNBC last week that Mexico won't retaliate against Trump's tariffs until the threats seem more serious. "We have to wait and see what the complete notification procedure from the U.S. to Mexico [is], and then assess how that would impact our commitments with the U.S.," said Guillermo Malpica, head of Mexico's Trade & NAFTA Office.more than 350 points.
Mexico was the second-largest exporter of goods into the U.S. last year, according to the Office of the U.S. Trade Representative. Each year, the U.S. imports billions of dollars worth of transportation equipment, chemicals and other goods from Mexico.Related Tags
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