Reuters - Video

Edition: US | UK | IN | CN | JP

video Video

Mexico: Trump's wall tax would cost U.S. consumers

Friday, January 27, 2017 - 01:22

Mexico's Foreign Minister says a 20 percent tax on goods from his country to fund Donald Trump's promise of a border wall would end up impacting American consumers. Ryan Brooks reports.

▲ Hide Transcript

View Transcript

The push back from Mexico continues after Donald Trump floated out plans to fund his border wall with a 20 percent tax on goods from south of the border. Mexico's Foreign Minister on Thursday saying the U.S. President's approach would circle back to American consumers. (SOUNDBITE) (Spanish) FOREIGN MINISTER OF MEXICO, LUIS VIDEGARAY, SAYING: "A tax on American imports of Mexican products, isn't a way to get Mexico to pay for a wall. Here in the United States it would affect avocados, washing machines, televisions and a number of other products that American families buy, immediately hitting American pocketbooks, affecting the economy." Mexico wouldn't necessarily pay any import taxes for the wall directly. The burden would fall largely on foreign companies producing goods in Mexico and selling them in the U.S., potentially pumping up prices for American consumers. Relations between the two sides have taken a nosedive since the start of Trump's election campaign, his trade rhetoric hitting the Mexican economy, which ships 80 percent of its exports north of the border. Trump has repeatedly said Mexico is going to pay for the wall, prompting President Pena Nieto to cancel a planned meeting between the two leaders set for next Tuesday. Mexico's Foreign Minister says he's prepared to work with Trump but the idea of his country paying for the wall is is quote "beyond negotiation."

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Mexico: Trump's wall tax would cost U.S. consumers

Friday, January 27, 2017 - 01:22