Trump and Mexican president speak by phone to calm border wall dispute

Trump and Mexican president speak by phone to calm border wall dispute

Cuellar said Trump's proposal to tax all USA imports from Mexico by as much as 20 percent "would actually hurt American consumers and businesses, not Mexico".

A few hours later, Spicer clarified the comment to say he was referring to a plan Speaker of the House Paul Ryan, (R-Wisc.), has said he supports.

And a tax or tariff will also disproportionately affect USA states near the border, such as Arizona and Texas.

"We write statements that reflect what the president wants to put out", White House Press Secretary Sean Spicer told RealClearPolitics.

The Mexican President reacted, saying, "I've said time and again: Mexico won't pay for any wall".

By coincidence, Mexican foreign minister Luis Videgaray and the country's economy minister are in Washington to prepare a visit by President Enrique Pena Nieto scheduled for January 31. It is our third largest supplier of goods overall, according to the Office of the United States Trade Representative.

In a country where U.S. chain restaurants, coffee shops and stores are now ubiquitous, social media users created long strings of hashtags such as #AdiosStarbucks #AdiosCostco, #AdiosWalmart, #AdiosMcDonalds, #AdiosProductosGringos, #ConsumoProductosMexicanos. Mexican auto parts are found in virtually all 11 million cars made in the United States. Mexico, in turn, could place a tariff on corn that the United States exports to Mexico.

Slim said he had not had contact with Trump since then.

The campaign's slogan, "Consumers cry war!" echoes the first line of Mexico's national anthem as it calls on citizens to buy national products.

US Crude oil futures hit over Dollars 53 pb
Meanwhile, the price of March futures for West Texas Intermediate (WTI) oil has increased by 0.15 percent and stood at $52.83. USA energy companies last week added the most rigs drilling for new production in nearly four years.

We understand the emotional appeal of building a wall to solve hard problems in the USA immigration system and national security - just build a wall to keep the bad people out, problem solved! - but we must deal in facts. That's not how we should treat American taxpayers.

But Pena Nieto refused to travel to the U.S. saying he is only willing to work with America on deals that favour both nations.

What is the Trump administration suggesting - a border tax or a tariff?

The United States could "easily pay for the wall just through that mechanism alone".

What is the difference between a border tax and a tariff?

The imports include finished items that can hit store shelves or showrooms and parts that American manufacturers use to produce other goods, said Robert Lawrence, a professor of global trade and investment at Harvard's Kennedy School of Government.

A border tax would require Congressional approval.

Patti Adair, a Sisters resident who attended President Trump's inauguration last week, is for securing the border, but disagrees on who will pay the bill.