US And Mexico Reach Tariff Agreement – Likely To GM’s Delight
11
Sponsored Links
The US and Mexico have reached a deal after President Donald Trump threatened to impose a five per cent tariff on Mexican-made products crossing the border into the United States.
Trump raised the possibility of imposing tariffs on Mexico if the country did not take proper steps to curb the flow of central American migrants into the US.
In a tweet, the President said the tariffs, which were scheduled to be implemented by the U.S. on Monday, “are hereby indefinitely suspended,” after Mexico “agreed to take strong measures to stem the tide of Migration through Mexico, and to our Southern Border.”
“This is being done to greatly reduce, or eliminate, Illegal Immigration coming from Mexico and into the United States. Details of the agreement will be released shortly by the State Department,” he added.
Media reports indicated the tariffs would hurt General Motors more than any other major American automaker, with the company importing 29% of its vehicle components from Mexico. By comparison, FCA imports 24% and Ford imports 17%.
In addition to vehicle components, GM also manufactures the Chevrolet Blazer, Chevrolet Trax, Chevrolet Equinox, GMC Terrain and certain versions of the Chevrolet Silverado and GMC Sierra 1500 trucks.
The tariffs would have also made for poor timing for GM, which just recently axed many of its sedans as it relies on crossovers and trucks like the Blazer, Terrain and Silverado to drive profits.
In a statement, secretary of state Mike Pompeo also thanked Mexican foreign minister Marcelo Ebrard for his “hard work to negotiate a set of joint obligations that benefit both the United States and Mexico.” Ebrard allegedly told Mexican president Andrés Manuel López Obrador that the country “emerged with our dignity intact,” following the negotiations with the US.
Subscribe to GM Authority for more around-the-clock GM news coverage.
- Sweepstakes Of The Month: Win a Corvette Z06 and 2024 Silverado. Details here.
Sponsored Links
Mexico agreed to take these steps BEFORE the threat of tariffs was ever made. The entire fiasco, from the so-called hoards at the Southern border, to the despicable act of family separations and indefinite detentions, is a direct result of a demagogue’s unquenchable thirst for the spotlight.
Mexico Agreed to Take Border Actions Months Before Trump Announced Tariff Deal
https://www.nytimes.com/2019/06/08/us/politics/trump-mexico-deal-tariffs.html
you still believe this after the NYT said for 2 years that trump was in bed with the russians to win the election
El Presidente Trump is an insecure man child. Perhaps he should heed Roosevelt’s advice and “speak softly and carry a big stick”. His self proclaimed prowess at the art of the deal making is not apparent in the case of tariffs as the Mexican government already agreed to do more to secure the border. HIs need to be the bully is more apparent than ever with this useless threat of tariffs that will be paid for by the American consumer. The world is laughing.
How many illegal immigrant families have you agreed to house, feed, clothe and provide with health care?
FYI: Mexico has made a deal and agreed to squash the illegal immigration problem with the deployment of ~1,000 Mexican Nat’l Guardsmen. The tariff threat worked and has them helping us to defeat the illegal immigration problem. Take a nap.
Just imagine how the folks in California are feeling now that the state wants to cover medical for immigrants illegal and legal up to 25 years old.
Yet they do nothing for veterans and can’t even fix the roads.
You get what you vote for. remember this at election day.
No matter who you support the fact is we have someone trying to do something after decades of both side failing to do anything to secure a boarder that is very damaged. It is not just drugs and security of our country but gangs and major human trafficking that has been well documented by many including Nat Geo before Trump ran for office.
Like it or not at least we are now getting Mexico to better work to stop the flow from central America. It matters little who gets the credit.
I recommend anyone to investigate the number of show Nat Geo did showing the places and conditions of how people and I mean many people are held. See how their families are extorted and many are killed and never found. See 5he women that are used in prostitution and held for years.
This has been a bigger deal that politics on either side and it was about time someone did something to protect all those here and those trying to come here.
We have for too long not just not speaking too softly but not speaking at all.
Amen! backthebrawl.com
I live here in Arizona.. believe me this is a serious problem…. no matter which side u support- something has to be done … illegals are pouring into the United States… daily majority of them are getting on federal assistance as well also known as free insurance paid for by hard-working Americans … it is a shame that General Motors has plants im Mexico .. we not only help them with their infrastructure we also help them one they come over illegally and get on our government cheese ……. we are there cookie jar
General Motors is playing with fire by moving so much of their production to Mexico especially their high selling vehicles because Trump can decide to withdraw the United States from NAFTA if Mexico fails to do what they promised which would allow Trump to impose an immediate 25-percent tariff on all GM vehicles from Mexico which could cripple the company.
I know it would’ve taken more work, but it would’ve been really nice if that fresh-looking Chevy Blazer was built in, say, Lordstown OH instead of “Hencho in Mexico.”
Trump threatens Mexico with tariffs over their refusal to quell the illegal immigration problem. ~72 hours later, Mexico comes scampering to the table to make an agreement with The US and avoid the tariffs. ~24 hours after this, Mexico deploys ~1,000 Mexican Nat’l Guardsmen to their southern border to stop the flow of illegal Central Americans into their country…and eventually to the US.
Any more questions?