Trump's Proposed Mexico Tariffs Threaten To Derail Major Trade Agreement
According to a report by Business Insider, US President Donald Trump's proposed tariffs on Mexican goods threaten to derail a trade agreement that took over a year of intense negotiations between three countries, and have drawn backlash from both Mexico and Trump allies.
Last year, the United States, Canada, and Mexico agreed to the US-Mexico-Canada Agreement, or USMCA, as a replacement to the North American Free Trade Agreement, or NAFTA.
Business Insider reports that the sweeping trade deal would create changes for employees across the dairy and auto industries, and affect labor unions and large corporations.
However, Trump's proposed 5 percent tariff on Mexican imports reportedly threatens the agreement just as the White House looked to speed up its congressional approval process and Mexico looks to ratify it.