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Chinese tariffs and now Mexican tariffs — could take them two steps back


Mexican tariffs


Estimates from the Tax Foundation, said that while the Trump administration’s 2017 tax cuts created about 380,000 full-time equivalent jobs, adding tariffs on Mexican products to the existing tariffs on Chinese goods could eliminate almost 610,000 full-time equivalent jobs from the U.S. workforce.

By itself, a 5% tariff on Mexican goods could drain off approximately 39,000 full time equivalent jobs, the Tax Foundation said in an analysis on the heels of the Mexican tariff news.

Trump announced plans escalating tariffs against Mexico if the country cannot stop illegal immigration. It’s the latest front in Trump’s trade disputes. The administration has already imposed a 25% tariff on $200 billion in Chinese imports.

China is coming back with retaliatory tariffs on $60 billion of American imports. Researchers and business groups say companies and consumers are the real victims.

America imported $346.5 billion in products from Mexico last year, according to the U.S. Trade Representative. About 90% of avocados in America come from Mexico.

(source: marketwatch)

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