Mexico retaliates and imposes tariffs on 90 U.S. products


Sometimes a seemingly small issue is transformed into a much larger problem. This is what happened between the U.S. and Mexico. The U.S. had a "pilot program" allowing Mexican trucks to cross the U.S. border and use U.S. roads. The program was halted last week on the grounds that the Mexican trucks were unsafe.

Mexico retaliated and said they would raise tariffs on $2.4 billion worth of U.S. exports. Mexico's tariffs would be increased on 90 industrial and agricultural products. These tariffs are set to be imposed later this week.



U.S. exports to Mexico totaled $151.5 billion dollars last year. Mexico's economy minister, Gerardo Ruiz Mateos said: "We believe that the action taken by the U.S. is wrong, protectionist and in clear violation of Nafta." The White House said it would create a new program to address the "legitimate concerns of Congress" while meeting Nafta commitments.The "pilot program" has been opposed by some members of Congress and the Teamsters Union. The US Department of Transportation studied the Mexican trucks and found them to be safe, in some cases safer than American trucks.

Do you believe that Mexican trucks should cross the U.S. border and use U.S. roads?

Reader Comments (Page 1 of 1)

Symbol Lookup
IndexesChangePrice
DJIA-89.2312,801.23
NASDAQ-23.352,903.88
S&P 500-9.311,342.64

Last updated: February 13, 2012: 07:23 AM

Hot Stocks

General Electric

18.875-0.255(-1.33)

Alcoa

10.29-0.35(-3.29)

Apple Inc

493.42+0.25(+0.05)

Google Inc 'A'

605.91-5.55(-0.91)

Bank of America

8.07-0.11(-1.34)

Wal-Mart Stores

61.90-0.06(-0.10)

Exxon Mobil Corp

83.80-1.08(-1.27)

Ford

12.44-0.25(-1.97)

Citigroup

32.925-0.735(-2.18)

IBM

192.42-0.71(-0.37)

Yahoo

16.14+0.14(+0.88)

Starbucks

48.82-0.38(-0.77)

Microsoft

30.495-0.275(-0.89)

Home Depot

45.33+0.06(+0.13)

DailyFinance Headlines

Benzinga Headlines

TheFlyOnTheWall.com Headlines

BioHealth Investor Headlines

WalletPop Headlines

DailyFinance BlackBerry App

My Portfolios

Track your stocks here!

Find out why more people track their portfolios on AOL Money & Finance then anywhere else.

BloggingStocks Partners

More from AOL Money & Finance

BioHealth Investor Headlines

Page Loaded in 1329135816911 ms.