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Source: AFP
President Claudia Sheinbaum of Mexico, the United States' apical trading partner, connected Thursday welcomed her country's exclusion from the database of nations targeted successful Donald Trump's latest circular of import tariffs.
Sheinbaum told reporters Mexico was spared acknowledgment to her government's "good relationship" with the US administration.
Mexico's economy is considered 1 of the astir susceptible to Trump's tariffs owed to its adjacent commercialized relations with the United States and their associated rank of the US-Mexico-Canada Agreement (USMCA) connected escaped trade.
More than 80 percent of Mexican exports spell to the United States, including immoderate 3 cardinal vehicles a year.
The Latin American federation is location to galore foreign-owned conveyance assembly plants operated by companies including Ford, General Motors, BMW, Volkswagen and Toyota.
Trump has slapped a 25 percent import tariff connected foreign-made cars and airy trucks, effectual from Thursday, though with immoderate exceptions for USMCA-covered vehicles and parts.
The determination prompted multi-national car institution Stellantis, which has plants successful the Mexican cities of Toluca and Saltillo, to denote Thursday it was pausing accumulation successful Mexico, wherever it makes Dodge cars and RAM trucks.
The institution has likewise announced it volition shutter its Chrysler mill successful the Canadian metropolis of Windsor.
'Major achievement'
Mexico's Economy Secretary Marcelo Ebrard said Thursday the USMCA remained intact, which helium described arsenic a "major achievement."
He said Mexico would, successful the adjacent 40 days, question "the champion conditions" for bilateral commercialized successful automobiles, alloy and aluminum.
Trump had antecedently threatened Mexico and Canada with a wide 25 percent tariff connected each goods, accusing its neighbors of allowing trafficked drugs and undocumented migrants into the United States.
Most person been suspended, but tariffs connected Mexican goods not covered by the USMCA person entered into force.
About 50 percent of Mexican exports autumn nether the commercialized agreement, according to analysts' estimates -- sum Sheinbaum wants to grow to all.
Her authorities is expected to contiguous a "comprehensive" strategy soon arsenic portion of its alleged "Mexico Plan" to boost the system successful the look of Washington's tariff onslaught.
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Source: AFP
