Mexico publishes retaliatory tariffs on USA imports

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"Mexico has the right to take measures with equivalent commercial effects", the economy ministry said in a statement explaining the tariffs.

Mexico announced steep duties on Tuesday on a raft of United States products ranging from whiskey to apples in retaliation for the "unilateral adoption" by Washington of steel and aluminum tariffs.

The latest negotiations came as President Donald Trump pushes China to assure the U.S.it will seek to reduce the $375 billion US merchandise trade deficit with China by $200 billion.

The Mexican currency slid for a fourth day on Tuesday, dropping 1.4 percent to 20.3488 in morning trading in NY, the sharpest retreat among major currencies. Big trade barriers against United States farmers, and other businesses, will finally be broken.

The offer was made in talks in Beijing over the weekend with Commerce Secretary Wilbur Ross, part of sensitive trade negotiations that could force President Donald Trump to make a tough decision about accepting this proposal or pushing for more concessions.

Mexican President Enrique Pena Nieto and his Canadian counterpart, Justin Trudeau, spoke as soon as Washington announced the new duties.

The tariff increases are created to hit areas that are politically favorable to Trump, such as pork production, Mexican experts said.

Canadian Prime Minister Justin Trudeau called the USA tariffs on Canadian aluminum and steel "unacceptable".

Ties between Washington and Mexico City have also been strained over immigration.

So the Trump administration's new tariffs on NAFTA partners as well as its goal of adding a sunset provision to NAFTA almost guarantees that fewer companies will allow their supply chains to straddle North American borders.

U.S. media reported in February that the two sides shelved tentative plans for a visit to Washington by Pena Nieto as tensions persisted over a proposed border wall.

The US is Mexico's largest trading partner, receiving about 80 per cent of the country's exports.

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