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在线翻译:
szdaily -> World Economy -> 
Trump urged to back down on Mexico tariff threat
    2019-06-03  08:53    Shenzhen Daily

MEXICO’S president and the top U.S. business lobbying group called on U.S. President Donald Trump to back down from a threat to impose punitive tariffs on Mexican imports, in a dispute over migration that could shock Mexico’s economy.

Trump said he will introduce the tariffs Friday if Mexico does not halt the flow of illegal immigration, largely from Central America, across the U.S.-Mexican border, battering Mexican financial assets and denting global stocks.

The ultimatum from Trump is the biggest foreign policy test to date for Mexican President Andres Manuel Lopez Obrador.

Mexico’s economy, which is heavily reliant on exports to the United States, shrank in the first quarter and would reel under U.S. tariffs that could reach as high as 25 percent this year under Trump’s plan.

Veteran leftist Lopez Obrador, who took office in December, predicted that Trump, who has embraced protectionism as part of an “America First” agenda aimed at reshaping global trade, would ease up on his demand.

“I tell all Mexicans to have faith, we will overcome this attitude of the U.S. Government, they will make rectifications because the Mexican people don’t deserve to be treated in the way being attempted,” Lopez Obrador told reporters.

Mexican Foreign Minister Marcelo Ebrard said he would attend talks with U.S. Secretary of State Mike Pompeo in Washington on Wednesday to discuss the tariff issue.

The influential U.S. Chamber of Commerce is looking at ways to challenge Trump’s tariff move against Mexico, including legal options. “We have no choice but to pursue every option available to push back,” Neil Bradley, the business group’s executive vice president and chief policy officer, told reporters.

Other industry groups also criticized Trump’s threat, saying it would hurt American businesses, farmers and consumers who have already borne the brunt of the Sino-U.S. trade dispute.

The White House called on U.S. companies to persuade their Mexican partners to lobby their government to cooperate.

Adding one more front to Trump’s global trade wars, the Trump administration announced Friday that it’s ending special trade treatment for India, removing a status that exempts billions of dollars of the country’s products from U.S. tariffs.

“I have determined that India has not assured the United States that India will provide equitable and reasonable access to its markets,” Trump said in a proclamation issued by the White House.

As of Wednesday, India will be terminated from its designation as a beneficiary developing country. (SD-Agencies)

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