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LatinNews Regional Monitor: Mexico - 11 June 2018

In brief: Mexico

* Daniel Curiel, the coordinator of the council of industrial chambers in Mexico’s Jalisco state (CCIJ), has stated that in as little as 30 to 45 days price fluctuations in Mexico could be seen due to import tariffs imposed by the US and Mexico on some of each other’s exports. Curiel told Mexican daily, El Universal, that Mexican companies which export steel and aluminium to the US would feel the effects of the US imposition of tariffs on these products announced on 31 May which led to a retaliation by Mexico. As regards the US imports upon which the Mexican government has imposed retaliatory tariffs, Curiel pointed out that Mexican companies may already have such products in stock. He said that where this is not the case, businesses would seek to find new providers of such goods so as to avoid price rises. Whether price increases occur will therefore depend on whether alternative suppliers are found. Curiel also raised concerns about the escalation of trade tensions regarding products such as tequila in response to Mexico’s imposition of tariffs on US whiskey. According to El Universal, Mexico exports 50% of the tequila it produces to the US.

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