Quantcast
Connect with us

Companies that moved production over Trump’s China tariffs blast president for surprise Mexico tariffs

Published

on

When President Donald Trump slapped Chinese goods with a spate of new tariffs last year, several companies sought to adapt by moving their supply chains from China to Mexico, which was still a relatively stable trading partner with the United States.

Now, according to The New York Times, Trump’s newest tariffs on Mexico are causing yet another scramble as companies that moved there are forced to adapt yet again.

ADVERTISEMENT

“Mexico was the place that people were looking to move to,” said Joseph Fitzgerald, a supply-chain expert at the accounting firm Deloitte. “Now it’s, ‘Gosh, we just got through one wave of supply chain strategy and structural change and now we need to start a new round.'”

Unlike the trade war with China, which is mainly economic, the trade war with Mexico is more overtly political. This week, Trump imposed a 5 percent tariff on Mexican goods, and warned that the tariff will slowly increase until the Mexican government does more to prevent Central American migrants from crossing the U.S. border — an issue that has been a key obsession of his presidency.

But disrupting trade between the United States and Mexico may have an even larger impact. As the Times notes, the same goods routinely flow both ways across the border — for example, refiners in America import Mexican oil, refine it into gasoline, and then export the gasoline back to Mexico. Tariffs on the practice could hurt producers and consumers in both countries.

“We’re taxing ourselves on our own goods,” said University of California economist Katheryn Russ.

ADVERTISEMENT


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Breaking Banner

Kamala Harris blisters Kavanaugh for lying to her during his hearings and calls for him to be impeached

Published

on

In a blunt tweet issued on Sunday morning, Democratic Presidential contender, Sen. Kamala Harris (D-CA) accused Supreme Court Justice Brett Kavanaugh of lying to the U.S. Senate during his confirmation hearings and said he must be impeached.

Following a New York Times report outlining credible allegations against Kavanaugh, with a witness accusing him of assaulting a fellow college student, Harris said the evidence presented should disqualify him from being on the bench.

Continue Reading

Breaking Banner

Republicans accused of stifling sexual misconduct claim against Brett Kavanaugh during confirmation

Published

on

A new report reveals that Deborah Ramirez, a woman who claims Supreme Court Justice Brett Kavanaugh sexually assaulted her while she was a student at Yale University, may have had evidence to corroborate her story — but that Republicans created a process which would stifle her account so that Kavanaugh could be confirmed.

This article first appeared in Salon.

Deborah Ramirez, who alleged that she was assaulted by Kavanaugh at a Yale party when she was an underclassman, had her legal team provide the F.B.I. with a list of at least 25 people who could have had evidence to corroborate her story, but the bureau ultimately interviewed none of them, according to The New York Times. The publication also learned that many of the individuals who could have corroborated Ramirez's story attempted to reach the F.B.I. on their own but were unable to do so.

Continue Reading
 

Breaking Banner

Why is billionaire Tom Steyer running for president — as an enemy of big corporations?

Published

on

Tom Steyer, the billionaire hedge fund manager who has become a late arrival in the field of Democratic presidential candidates, provides anti-Trump voters with an interesting challenge. His critique of wealth sometimes sounds like Bernie Sanders, but he is by far the richest person in the race (even if you include Donald Trump).

This article first appeared in Salon.

When I interviewed  Steyer earlier this year, he said he had no interest in running for president and was instead focused on funding a campaign to impeach President Donald Trump. He has obviously changed his mind — and while still far behind the leading candidates in the polls, has now qualified for the October Democratic debates, even though he wasn't on stage for the debate held in Houston last week.

Continue Reading
 
 
Help Raw Story Uncover Injustice. Join Raw Story Investigates for $1. Go ad-free.
close-image