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Thursday, May 5, 2016

U.S. Anti-Trade Movement Would Hurt Economy

A government official from Mexico warns that anti-trade policy being pushed by U.S. Presidential candidates would deal a severe blow to the global economy. Mexico’s Economy Minister told Reuters that a plan to impose a 35 percent tariff on many Mexican goods would violate global trade deals and spark “chaos,” if enacted.” While not naming a specific candidate, the Mexican official was referring to a plan outlined by Republican candidate Donald Trump. Trump and Democratic front-runner Hillary Clinton have both expressed opposition to the Trans-Pacific Partnership trade agreement awaiting approval by Congress. The official from Mexico made the comments while in Washington, D.C. this week meeting with trade officials from the U.S. and Canada.