Uh, well, yeah … that's why everyone is freaking out about trade protectionism and restriction from the US
But thanks anyway.
Reuters with the latest from Moody's … says
- US tariffs, Mexico's retaliatory measures, with similar measures from Canada & EU may give rise to macroeconomically disruptive trade barriers
- Mexico's tariffs on US. goods will have marginal macroeconomic impact but signal continued strained bilateral relations
- On Mexico's tariffs on US goods, says immediate economic impact on US. economy will be negative
- Says a fall in US imports of Mexican steel, aluminium and related articles will partially offset the potential direct impact on US GDP
- Trade barrier related developments a credit negative for Mexico, given the increasing likelihood of escalation in trade tensions, further strains in US-Mexico relations---
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I really shouldn't diss Moody's for being Captain Obvious on this, its from a note intended for clients, some of whom are a few sandwiches short of a picnic.
