TELETRADER News
7/12, 3:21 PM (Source: TeleTrader)
more TeleTrader news

Trump: Most of Mexico deal yet to be revealed

Import levies "are a great negotiating tool" for a country considered by others to be a "piggy bank," United States President Donald Trump wrote on Friday on Twitter and accused the biggest trading partners of unfair practices. He claimed tariffs are "a great revenue producer" and went on to insist they are "a powerful way to get companies" return production to the home market.

"We stupidly lost 30% of our auto business to Mexico. If the Tariffs went on at the higher level, they would all come back, and fast. But very happy with the deal I made, if Mexico produces (which I think they will). Biggest part of deal with Mexico has not yet been revealed!" the president stated. In the message, he added "China is similar" where he accused again the government in Beijing of devaluating the yuan and subsidizing exporters to mitigate the impact of US tariffs on competitiveness.

"So far, little effect to consumers. Companies will relocate to U.S." Trump asserted.

Breaking the News / IT