Trump, AMLO tout US-Mexico deal to avert tariffs, by Said Betanzos.
Presidents Donald Trump and Andres Manuel Lopez Obrador each declared the deal averting US tariffs on Mexico a win Saturday, as markets breathed a sigh of relief …
Lopez Obrador said the bottom line on the last-minute deal reached Friday night was simple: “there will not be an economic or financial crisis in Mexico on Monday.”
Economists had warned the pain of Trump’s threatened tariffs — set to start at five percent Monday and rise incrementally to 25 percent by October — and Mexico’s likely retaliatory measures would have been acute for both countries, with potentially global spillover.
Instead, the countries hammered out a deal in which Mexico agreed to bolster security on its southern border and expand its policy of taking back migrants, most of them from violence-riven Guatemala, Honduras and El Salvador, as the United States processes their asylum claims.
Trump hailed it as a victory, after a week of terrifying his southern neighbor, whose economy depends heavily on exports to the US.
Now wasn’t that simple? Big win for Trump. Guess we won’t hear about that in the mainstream media.
Sometimes, strikes work. Sometimes even the threat of a strike can change management policy. A strike always damages the business, but sometimes it’s the only way.
Between countries, tariffs are much the same. Mexico and China, the biggest trading partners of the US, both behave badly: Mexico encourages illegal immigration to the US, and China steals intellectual property. Trump imposes tariffs, previous presidents did nothing.