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·         U.S. pushes Mexico for more in talks over tariffs and border

·         As Mexico-U.S. talks progress, markets rise on hopes a deal could be close

 

 

U.S. pushes Mexico for more in talks over tariffs and border

 

By Roberta Rampton and Dave Graham, Reuters

via Metro (NY) - June 06, 2019

 

WASHINGTON/MEXICO CITY (Reuters) - Mexican and U.S. officials resumed talks on trade and migration on Thursday, with markets rebounding on reports that a deal could be close, although it was unclear if Mexican pledges to curb migration flows were enough to stop tariffs on Mexican goods going ahead.

 

U.S. President Donald Trump has warned that tariffs of 5% on all Mexican exports to the United States will go into effect on Monday if Mexico does not step up efforts to stem an increase in mostly Central American migrants heading for the U.S. border.

 

Bilateral talks in Washington are seeking to avert the tariffs, which have rattled global financial markets, with even Trump's fellow Republicans fretting about the potential economic impact on U.S. businesses and consumers.

 

U.S. stocks, oil and Treasury yields rose on Thursday afternoon on reports that the two sides were getting closer to a deal.

 

But Vice President Mike Pence said discussions would continue "in the days ahead" and that Mexico had to take "decisive action" to avoid tariffs. The decision on whether to move forward with the tariffs would be up to Trump, he said.

 

Mexico has offered to send up to 6,000 members of its national guard to secure its southern border with Guatemala to contain migrant flows, according to two people with knowledge of the matter. A deal could also include a provision to make it easier for the United States to deport Central American asylum seekers, the Washington Post reported.

 

Mexico's finance ministry said it blocked the bank accounts of 26 people for "probable links with human trafficking and illegal aid to migrant caravans."

 

Bloomberg News, citing people familiar with the matter, reported that the United States was considering a delay in the tariffs to allow for more negotiations.

 

In response to the report, the White House said its position on the Monday deadline had not changed...

 

MEXICO ECONOMY ...

 

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https://www.metro.us/news/the-big-stories/us-pushes-mexico-more-talks-over-tariffs-and-border

 

 

As Mexico-U.S. talks progress, markets rise on hopes a deal could be close

 

Roberta Rampton & Dave Graham, Reuters

June 6, 2019

 

WASHINGTON/MEXICO CITY (Reuters) - Mexican and U.S. officials held a second day of talks on trade and migration on Thursday, with markets rebounding on optimism a deal could be close, although it was unclear if Mexican pledges to curb migration flows were enough to persuade the Trump administration to postpone tariffs.

 

U.S. President Donald Trump has warned that tariffs of 5% on all Mexican exports to the United States will go into effect on Monday if Mexico does not step up efforts to stem an increase in mostly Central American migrants heading for the U.S. border.

 

Bilateral talks in Washington began on Wednesday to attempt to strike a deal, with the Mexican government, U.S. business groups and even many of Trump’s fellow Republicans keen to avert the tariffs, the prospect of which has rattled global financial markets.

 

U.S. stocks, oil and Treasury yields rose on Thursday afternoon on indications the two sides were getting closer.

 

U.S. Vice President Mike Pence said Mexico had offered “more” on Thursday than on Wednesday but that it would be up to Trump - who returns from a European trip on Friday - to decide if it were enough.

 

“There has been some movement on their part. It’s been encouraging,” he said. “The discussions are going to continue in the days ahead.”

 

Mexican Foreign Minister Marcelo Ebrard told reporters the Mexican government had offered to send 6,000 members of the National Guard to secure its southern border with Guatemala.

 

In a sign of a wider crackdown, the leftist administration of Mexican President Andres Manuel Lopez Obrador said earlier that it blocked the bank accounts of 26 people for alleged links to human trafficking, while it detained on Wednesday at least 350 migrants crossing into Mexico and arrested two prominent migrant rights activists.

 

Ahead of the 2020 U.S. presidential election, Trump is eager to show progress on his 2016 campaign pledges to take a hard line on immigration. Apprehensions at the U.S.-Mexico border hit a decade high in May.

 

Brad Parscale, Trump’s 2020 campaign manager, tweeted on Thursday: “Mexico sent representatives to Washington as soon as President @realDonaldTrump announced possible tariffs. We are expected to have over 1 MILLION people arrive at our Southern Border this year. Dems are playing games with the border. The president is not!”

 

U.S.-Mexico migration talks will continue on Friday, Ebrard said.

 

If the tariffs go ahead, the United States would be in a serious trade dispute with both China and Mexico - two of its three top trading partners.

 

Trump said on Thursday he would decide later this month whether to carry out his threat to hit Beijing with tariffs on at least $300 billion in Chinese goods.

 

Officials of the U.S. Federal Reserve and International Monetary Fund separately warned on Thursday that global trade tensions and rising tariffs posed an increasing risk to decades of U.S. expansion, as well as to the global economy.

 

Analysts warn that tariffs could spark a recession in Mexico. Credit ratings agency Fitch downgraded Mexico’s sovereign debt rating on Wednesday, citing trade tensions among other risks, while Moody’s lowered its outlook to negative.

 

NATIONAL EMERGENCY? ...

 

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https://www.reuters.com/article/us-usa-trade-mexico/as-mexico-u-s-talks-progress-markets-rise-on-hopes-a-deal-could-be-close-idUSKCN1T71MK