Mexico Warns Tariffs Would Cost 400,000 US Jobs

November 27, 2024 Business, Mexico

Mexican Economy Minister Marcelo Ebrard [photo] said on Wednesday that a 25% across-the-board tariff proposed by U.S. President-elect Donald Trump would cause the loss of 400,000 jobs and slow growth in the United States, while also hitting Mexican exports.

“It’s a shot in the foot,” he said in a morning press conference, adding that Mexico wanted more regional cooperation and integration instead of a war of retaliatory import taxes.

Ebrard said the proposed tariffs would hit the automotive sector’s top cross-border export firms especially hard, namely Ford, General Motors and Stellantis and push up vehicle prices for consumers by thousands of dollars.

Read the full article.

Los aranceles de @realDonaldTrump provocarían que se pierdan 400 mil empleos y que pickups, hechas en México, aumenten hasta 3 mil dólares en EU, alerta el secretario de Economía, @m_ebrard pic.twitter.com/kSQCygU4xD

— La-Lista (@LaListanews) November 27, 2024