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Trump spoke on Sunday, said he would place up to 200% tariffs on vehicles imported from Mexico.
The big 3 US auto makers all have plants building cars for the US market in Mexico.
Trump had previously promised 100% tariffs on imported cars and trucks. But on Sunday ratcheted this up to 200%:
Analysts say that new tariff on Mexican vehicle exports “likely would drive up the cost of motor vehicles, domestic as well as imports, used cars as well as new.”
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Trump slapped huge tariffs on imports from China during his presidency. Current President Biden has pretty much maintained them. They are a populist policy, its always easy to kick China for domestic policy failings.
This article was written by Eamonn Sheridan at www.forexlive.com.
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