Following Mexico’s growing rift with the United States over President Donald Trump’s plan to build a wall on the border and put a 20 percent import tax on Mexico to pay for it, Mexican billionaire Carlos Slim held a rare news conference in which he offered to assist President Pena Nieto in negotiations.
White House spokesman Sean Spicer suggested Thursday the U.S. could pass on the cost of President Donald Trump’s southern border wall by imposing a 20 percent tax on all Mexican imports.
The value of the peso took a sharp downturn Thursday after Mexican President Enrique Peña Nieto announced he had canceled a meeting with President Trump scheduled for next week.
Mexico’s President Enrique Peña Nieto tweeted on Thursday that he had informed the White House that he will not be attending a meeting with President Donald Trump scheduled for next Tuesday.
President Donald Trump is expected to sign an executive order on Wednesday advancing the construction of a wall on the U.S.-Mexican border. The cost of that wall could be north of $15 billion, according to a Wall Street firm.
President Donald Trump signed an executive order on Monday withdrawing the United States from the Trans-Pacific Partnership, a landmark 12-nation trade agreement struck under the Obama administration with Pacific Rim countries that was never ratified by the U.S. Congress.
Congressional Republicans have begun looking into funding options for the Mexican border wall promised by President-elect Donald Trump, who hopes to fund the project through the appropriations process as early as April.
Ford is cancelling its plans to build a new plant in Mexico to invest $700 million in Michigan to create more self-driving and electric cars. The move will create an estimated 700 jobs in the U.S.
Carrier Corp. announced Tuesday evening after discussions with President-elect Donald Trump’s incoming administration that it will keep 1,000 jobs in the United States that the the air conditioning manufacturer had originally planned to move to Mexico.