Mexico hits US pork, grapes in retaliation against tariffs

Mexico hits US pork, grapes in retaliation against tariffs

Mexico hits US pork, grapes in retaliation against tariffs

Later he tweeted that American farmers have been treated unfairly by China, Canada, and Mexico for 15 years, but that he would change that.

The peso sank to its weakest in more than a year earlier Tuesday on concern the USA may leave the North America Free Trade Agreement and try to negotiate two separate free trade deals with Mexico and Canada.

"By the time I finish trade talks, that will change".

Other US allies have also reacted with fury and retaliation, with fears building of a global trade war.

The US Commerce Department publishes trade data for April today, with Washington's trade deficit with Beijing likely to be the primary focus.

The world's two largest economies have been at loggerheads over trade and industrial practices for months with the talks under way in the Chinese capital - the third formal round of negotiations.

"The US has made such bad trade deals over so many years that we can only WIN!"

Trump weighed in on Twitter early Monday by saying, "China already charges a tax of 16% on soybeans".

Trump has infuriated European Union members, Canada and Mexico by imposing tariffs of 25 percent on steel and 10 percent on aluminium, ending months of uncertainty about potential exemptions and suggesting a hardening of the United States approach to trade negotiations.

While other World Trade Organization members are also considering retaliating by targeting iconic American products - such as bourbon whiskey and Harley-Davidson motorcycles - the escalating tensions between Mexico and the US may further complicate the renegotiation of the NAFTA trade accord.

Those penalties will remain in place "until the United States government eliminates tariffs imposed", Mexico's government said.

This is unedited, unformatted feed from the Press Trust of India wire.

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