Mexican Media Brands
UPDATE: Trump Revives Threat to Tax Cars from Mexico
President Donald Trump says he’ll begin taxing cars from the country unless Mexico curbs the flow of illegal drugs to the U.S. a year from now.
#economics
Share
President Donald Trump—who six days ago threatened to close the border with Mexico this week because of refugees—now says he’ll begin taxing cars from the country unless Mexico curbs the flow of illegal drugs to the U.S. a year from now.
The pivot in policy is a result of unspecified initial steps being taken by the Mexican government in the wake of last week’s threat, Trump says. “A lot of good things are happening,” he tells reporters.
Analysts have estimated that blocking the flow of cars and components from Mexico could paralyze the U.S. auto industry in less than two weeks.
Meanwhile, some Mexican exporters are telling Reuters they’re already pondering air shipments to avoid bottlenecks at highway crossings to the U.S. Reports say truck backups have stretched to five miles in Mexico since the Trump administration began diverting customs agents to handle the processing of immigrants asking to enter the U.S.
RELATED CONTENT
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.