Mexico warns Trump's proposed tariffs will cost 400,000 US jobs | Donald Trump News

Mexico's president and economy minister have given the clearest picture yet of how their government will respond to U.S. President-elect Donald Trump's proposed tariffs on the country, which , according to their government, will cost 400,000 jobs in the United States.

Speaking at a news conference Wednesday, Mexican President Claudia Sheinbaum said the Mexican response would be swift if Trump follows through on his plans.

If there were U.S. tariffs, Mexico would also raise tariffs, Sheinbaum said.

The comments are the latest response to Trump's statement Monday that he plans to impose massive tariffs not only on China, but also on Canada and Mexico, at a whopping 25 percent.

Economy Minister Marcelo Ebrard also warned against Trump starting a regional trade war, calling the cost to American workers enormous.

About 400,000 jobs will be lost in the United States, he said, citing a study based on figures from U.S. automakers manufacturing in Mexico.

He added that the impact would extend beyond workers to American consumers. For example, Ebrard said, most pickup trucks sold in the United States are made in Mexico. He claimed Trump's tariffs would add $3,000 to the cost of a new vehicle.

That's why we say it would be a shot in the foot, he said.

Unacceptable

Trump has promised to use tariffs to prop up U.S. manufacturing, an attempt at a hard reset that economists have cast doubt on.

Nonetheless, the severity of the president-elect's approach to Canada and Mexico, which along with China constitute the United States' three largest trading partners, was somewhat surprising.

In his statement Monday, Trump said he would impose 25 percent tariffs if the three countries did not do more to combat irregular migration and drug trafficking into the United States.

Sheinbaum previously called the threats unacceptable.

On Wednesday, Sheinbaum revealed that she had a call with Trump to discuss migration across the US-Mexico border, where she attempted to allay his fears.

Had a great conversation with President Donald Trump, Sheinbaum posted on social media. We discussed Mexico's strategy to deal with the migratory phenomenon and I shared that caravans do not arrive at the northern border because they are taken care of in Mexico.

Officials also warned that Trump's tariffs would likely run afoul of the U.S.-Mexico-Canada free trade agreement, the USMCA, which bans most tariffs on trade between the three countries.

Trump himself had renegotiated the deal during his first term, complaining that American businesses were being treated poorly.

Sheinbaum requested a meeting with Trump before he takes office on January 20.

For his part, Canadian Prime Minister Justin Trudeau said he had already spoken with Trump about the tariff threat, highlighting the long-standing ties between the two countries.

We talked about some of the challenges we can work on together. It was a good decision, he said. This is a relationship that we know takes some work, and that's what we need to do.

Government officials aren't the only ones who have warned about the impact of the proposed tariffs on American businesses and consumers.

Barclays analysts said they believe the proposed tariffs could effectively wipe out all profits for Detroit's three automakers: GM, Stellantis and Ford.

Although it is generally accepted that a 25% global tariff on any vehicle or content from Mexico or Canada could be disruptive, investors underestimate how disruptive it could be, they wrote in a note Tuesday.

Trump's team, for its part, remained defiant.

Brian Hughes, a spokesman for Trump's transition team, told the Reuters news agency that the tariffs would protect American manufacturers and workers from unfair practices by foreign companies and markets.

He claimed that Trump would implement policies that he believed would make life affordable and more prosperous for the United States.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos