Sunday, January 15, 2017

Mexico warns Trump border tariff would trigger 'global recession'

Mexico's economy minister warned that U.S. President-elect Donald Trump's threat of a massive border tariff to build a wall would trigger a "global recession."

Ildefonso Guajardo said on a news show on the Spanish-language Noticieros Televisa Mexican network on Friday that Trump's proposed 35 percent tariff would "be a problem for the entire world." A Trump tariff "will have a wave of impacts that can take us into a global recession," Guajardo said

During a news conference Wednesday in New York, Trump repeated his intentions.

"There will be a major border tax on these companies that are leaving and getting away with murder," Trump said.

But Guajardo said his nation will retaliate if the Trump administration imposes the tariff.

"It's very clear that we have to be prepared to immediately be able to neutralize the impact of a measure of that nature," Guajardo said.

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