IPFS News Link • United States
US, Mexico In Last Ditch Attempt To Avoid Tariffs
• https://www.zerohedge.comTime is running out before Washington is set to impose new levies of 5% on all Mexican goods entering the US, and with talks set to resume on Thursday, both sides are on tenterhooks.
Trump, who is in Europe on Thursday commemorating the lives lost during D-Day, said that "not nearly enough" progress has been made during talks between Marcelo Ebrada and a top US trade official. In fact, it's unclear how much progress can be made on any deal before Trump returns from his trip abroad.
Immigration discussions at the White House with representatives of Mexico have ended for the day. Progress is being made, but not nearly enough! Border arrests for May are at 133,000 because of Mexico & the Democrats in Congress refusing to budge on immigration reform. Further...
— Donald J. Trump (@realDonaldTrump) June 5, 2019
Immigration discussions at the White House with representatives of Mexico have ended for the day. Progress is being made, but not nearly enough! Border arrests for May are at 133,000 because of Mexico & the Democrats in Congress refusing to budge on immigration reform. Further...
— Donald J. Trump (@realDonaldTrump) June 5, 2019
The peso weakened further as Moody's Investors Service on Wednesday cut Mexico's outlook to negative from stable, and then Fitch lowered the nation's sovereign rating to BBB from BBB+.
Still, Ebrard, said he was confident the two sides could reach a deal before the June 10 tariff deadline. Ebrard said he had a productive meeting with other US officials, including Mike Pompeo and Mike.
"We are optimistic because we had a good meeting with respectful positions from both parts," Ebrard said during a press conference at the Mexican Embassy in Washington. "We had an opportunity to explain our point of view."
Ultimately, Trump has said he also believes Mexico wants to make a deal, but what they have proposed so far hasn't been sufficient.