Tariffs would be implemented by Presidential degree

Some interesting headlines from Mexico economic minister Acevido:

  • Sees moment of global steel overcapacity
  • Steel has multiplier effects throughout Mexico econ
  • Mexico steel, textile sectors facing difficulties
  • Mexico suffering from products dumping from China, US
  • Mexico is proposing 15% Steel
  • Mexico is proposing 25 – 30% tariff on textiles
  • Tariffs will be implemented by presidential degree
  • reaches preliminary agreement for 15% steel tariff with countries that do not have free trade agreement with Mexico

The USDMXN moved higher on the headlines.

USDMXN move higher on tariff threat