US President Trump is threatening Mexico with a 5 percent tariff on their exports over 'illegal immigration problem'. The threat comes as a new free trade agreement between the US, Mexico and Canada was about to be ratified.
It's not too late for US trading partners to decide which path to take: one based on retaliation leading to trade destruction, or a path where tariffs are reduced. The window to decide is closing, says Dennis Snower.
The US has announced a delay imposing tariffs on certain Chinese products that had been earmarked for the measure from next month. China has said the tariffs were "not a constructive way" to resolve the trade conflict.
The European Union has slapped countervailing tariffs on imports of subsidized biodiesel from Indonesia. The southeast Asian country has threatened to retaliate but experts say counter tariffs could be self-destructive.
Mexican authorities have rescued 65 migrants from South Asia who were found starving and severely dehydrated. Once their nationalities are identified and confirmed they will be sent back to their countries.
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