Trump's Border Wall Could Cost $120 per American Household

Trump's administration at first said a 20 percent tax on imports would pay for a border wall with Mexico. Disagreement over that issue led to frosty relations between the two countries last week, which thawed after a telephone call between Mexican President Enrique Peña Nieto and Trump.

While Mexico's most trade with China is in the form of imports, "our exports are also growing", noted Videgaray.

The call comes after threats by U.S. President Donald Trump to pull out of the North American Free Trade Agreement (NAFTA) that binds the three countries if he can not renegotiate it to benefit the United States.

"Regarding China, we have to remember that it is a country with which we have elevated our relationship, the character of our comprehensive strategic partnership, and we are seeing an increase in the flow of trade", said Mexico's top envoy. Trump insisted Mexico would pay for the wall. Trump has voiced his support for the introduction of an import tariff on goods from Mexico, with the money generated used to fund the construction of the infamous wall promised during his presidential campaign.

Up for negotiation at some point in the near future is NAFTA, the North American Trade Agreement, at Trump's insistence.




The peso broke well past the 21 per dollar level last week and cleared some key technical levels, but analysts warned the currency could quickly retreat again if USA and Mexican talks took a negative turn.

Malcolm DeKryger, president of IN pork producer Belstra Milling, said he was anxious Mexico would impose tariffs on USA ham, which could cause Mexican buyers to turn to Brazil or Europe.

Mexico could target sanctions on farm products, in particular, in an attempt to punish rural communities that supported Trump in the presidential election, said Katherine Baylis, associate professor of agricultural and consumer economics at the University of IL.

USA company Ingredion Inc, which produces high fructose corn syrup and other corn products, said its "geographic diversity balances country-specific headwinds".

The port summit had been billed as bringing together seaport directors with business leaders and officials from Mexico.

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