Mexico set to ‘mirror’ policy on any U.S. trade tax change: minister

1/23/17 Reuters

Idelfonso-GuajardoMexico’s economy minister said his country was ready to renegotiate trade rules with the United States and that any change in U.S. tax policy that affected imports would have to be countered with a “mirror action” in Mexico.

U.S. President Donald Trump told a meeting with U.S. executives on Monday that companies would face a “major border tax” if they shifted jobs outside the United States. Such a measure could affect Mexico’s exports to the United States, its top trading partner.

“If there is any action that punishes imports to the North American market and encourages U.S. exports, you have to reflect it in a mirror action to counteract the change of incentives that this would make for activity and investment in Mexico,” Economy Minister Ildefonso Guajardo said in an interview in the newspaper El Universal on Monday.

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