The National  Memo Logo

Smart. Sharp. Funny. Fearless.

Monday, December 09, 2019 {{ new Date().getDay() }}

MEXICO CITY (Reuters) – Mexico must be ready to respond immediately with its own tax measures if the incoming administration of President-elect Donald Trump imposes a border tax, the country’s economy minister said on Friday.

Trump, who takes office on Jan. 20, on Wednesday promised a “major border tax” on companies that shift jobs outside the United States, and such a measure could hobble Mexico’s exports to its top trading partner.

“It is clear we need to be prepared to immediately neutralize the impact of such a measure,” Economy Minister Ildefonso Guajardo said in an interview on Mexican television.

“And it is very clear how – take a fiscal action that clearly neutralizes it,” he said.

Guajardo said Trump’s proposed tax “was a problem for the entire world” and that it “would have a wave of impacts that could take us into a global recession.”

He has warned that U.S. corporate tax cuts proposed by Trump, as well as the border tax, could undermine foreign investment in Latin America’s No. 2 economy.

Mexico slapped a tax on U.S. high fructose corn syrup in the early 2000s after the United States refused to allow free trade in Mexican sugar.

(Reporting by Michael O’Boyle; Editing by Frances Kerry)

IMAGE: Mexico’s Economy Minister Ildefonso Guajardo speaks during a news conference on the Brexit at the National Palace in Mexico City, Mexico, June 24, 2016. REUTERS/Henry Romero

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Reprinted with permission from AlterNet

Anti-vaxxers have taken conspiracy theories to a new level with their latest attempt to convince unvaccinated COVID patients to leave hospital intensive care units.

Keep reading... Show less

Oath Keepers leader Stewart Rhodes at Capitol on January 6, 2021

Reprinted with permission from AlterNet

Members of the Oath Keepers — along with QAnon and the Proud Boys — were among the far-right extremists who, according to the FBI, were involved in the January 6 attack on the U.S. Capitol Building. The role that the Oath Keepers played in the Capitol insurrection is the focus of a report by PolitiFact's Samantha Putterman, who examines their activities before and during the attack.

Keep reading... Show less
x
{{ post.roar_specific_data.api_data.analytics }}