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Weekly Report - 07 June 2018 (WR-18-22)
MEXICO: First shots fired in trade war with US
To all intents and purposes, a trade war broke out between Mexico and the US last week. Following the decision by the US to extend its recently introduced import tariffs on steel and aluminium to Mexico, Canada, and the European Union (EU), the Mexican government adopted retaliatory measures, insisting that its actions are a proportionate response. The concern is that there could be further repercussions, scuppering the ongoing efforts to renegotiate the North American Free Trade Agreement (Nafta).
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