Published: Wed, June 05, 2019
Markets | By Otis Pena

Mexican officials to meet Pence in last-ditch talks to avert tariffs

Mexican officials to meet Pence in last-ditch talks to avert tariffs

Defying increasing criticism from within his own party, U.S. President Donald Trump said on Tuesday he would likely go ahead with new tariffs on imports from Mexico to pressure it to clamp down on rising numbers of migrants entering the United States.

More than that, Americans will pay the price - as they have with Trump's U.S.

"That was my basic message", Republican Senator Ron Johnson told reporters after a meeting between lawmakers and White House officials on Tuesday.

"Mexico can stop it, they have to stop it". Otherwise we just won't be able to do business.

He acknowledged, "I mediate if they originate, it's silly". "I think if they do, it's foolish", he said, citing his broad support generally among members of the party.

As for Lopez Obrador's handling of the dispute, she said: "It is by talking that people reach understanding".

Trump re-emphasised his threats during a state visit to Britain, bluntly saying it was "more likely" than not that the tariffs would go into effect next week. Citing potentially devastating consequences to the US economy, Senate Republicans defied the president Tuesday, announcing their opposition to the tariffs.

White House trade adviser Peter Navarro told CNN Trump's threatened tariffs might not be needed.

"I believe that at the end of the day we will get to a solution that solves our problem", McCarthy said.

In 2018, automakers sold 17.3 million new vehicles in the United States. USA relations with China have worsened in the past month as Washington and Beijing have imposed additional tariffs on each others' imports.

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Mexican officials will offer a "long list of things" in Wednesday's talks to avoid the duties, said Chuck Grassley, Republican chairman of the U.S. Senate Finance Committee.

Mexico exports a broad array of goods to the United States, ranging from cars, auto parts and televisions to popular brands of beer. Democrats opposed that move.

Toyota Motor Corp is warning its United States dealers that the U.S. government's proposed tariffs on Mexican imports could increase auto parts costs by more than US$1 billion and hurt sales of its top-selling truck.

He added that Toyota remains hopeful negotiations between the United States and Mexico on trade and immigration policy would lead to a deal that can be "resolved quickly".

Border authorities apprehended more than 98,000 people in April, 60% of them consisting of families, the highest monthly level in more than a decade.

The main goal is to avoid a trade war at all costs.

A delegation of top Mexican officials led by Foreign Minister Marcelo Ebrard have been in Washington since Friday hoping to head off the tariffs Trump ordered.

Leftist Lopez Obrador has said he wants to persuade Washington to help tackle the causes of migration by investing in Central America to create jobs and speed up economic development.

Tariffs could slow another type of migration: the more than 1 million cows exported by Mexico across the border each year that become part of the USA beef supply. Ebrard has said the threatened tariffs would be devastating to Mexico's economy and would not stop the waves of migrants from crossing the U.S. border. And a US administration official told The Associated Press that Vice President Mike Pence will be chairing the meeting at the White House.

In advance of the talks, a White House official said on condition of anonymity, "Trade and all other aspects of our relationship are critically important, but national security comes first and the White House is dead serious about moving forward with tariffs if nothing can be done to stem the flow of migrants".

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