- Asian stocks dive, dollar rallies as Year of the Snake starts with bite
- Cavs crush Mavs in aftermath of shock Doncic trade, Celtics rally
- Trump announces talks with Canada, Mexico over sweeping tariffs
- Starmer to urge Europe to 'bear down' on Putin at landmark talks
- Grammys red carpet: all the drama, all the hotness
- Trial of Spain's ex-football chief over forced kiss to begin
- 'Breaks a little part of you every day': Texas man on Death Row
- Trump accuses S.Africa of 'confiscating' land, cuts funding
- Musk brands USAID 'criminal', Trump calls its leaders 'radical lunatics'
- Rubio lays down ultimatum to Panama over canal
- Sizzling McIlroy captures PGA Pebble Beach title
- Doncic thanks 'special' Mavs fans after shock trade to Lakers
- Musk brands USAID 'criminal' as civil service scrutiny grows
- Early wins for Beyonce, Kendrick Lamar, Charli XCX as Grammys begin
- Jimmy Carter wins posthumous Grammy for best audiobook
- Cavs crush Mavs in aftermath of shock Doncic trade
- Olympic champions Lyles, Holloway blast to victory in Boston
- Bergs scores accidental knockout to send Belgium past Chile in Davis Cup
- Mexican farmers, auto-parts makers urge dialogue with US
- Late derby drama keeps Inter on Napoli's heels in tight Serie A title race
- Aston Villa sign Rashford on loan from Man Utd
- Henrique fires Marseille past Lyon
- Slasher film 'In a Violent Nature' wins Gerardmer festival top prize
- Kim holds off No.1 Korda for wire-to-wire win in LPGA opener
- Sundowns crush Arrows after title rivals Pirates edge Chiefs
- Georgia police arrest two opposition leaders at protest
- Spurs energised by getting 'help' out of slump - Postecoglou
- Rubio warns Panama of consequences over canal
- Mavs boss defends Doncic-Davis deal as trade stuns NBA
- Guardiola frustrated after 'fragile' Man City humbled by Arsenal
- De Vrij snatches last-gasp Milan derby draw for Inter
- Amorim concerned by 'serious' Martinez injury in latest Man Utd defeat
- Boniface helps dominant Leverkusen cut Bayern lead to six points
- Ireland's Prendergast says Crowley rivalry talk 'outside noise'
- Stones angered by 'unacceptable' Man City collapse
- 'Dog Man' fetches top spot in N.America box office
- 'Failing marriage': Canadian border cities dismayed by US trade rift
- Boniface helps dominant Leverkusen cut Bayern lead back to six
- Arsenal thrash Man City to boost title challenge, Man Utd lose to Palace
- Five-star Arsenal crush woeful Man City to keep title bid alive
- Mavs confirm Davis arrival as blockbuster Doncic deal shocks NBA
- At least 160,000 rally in Berlin against far right
- Abhishek's brilliant ton helps India demolish England in final T20
- Canada's Auger-Aliassime battles to seventh ATP title
- Abhishek ton helps India demolish England in final T20
- Uzun rescues draw for Frankfurt against Wolfsburg
- EU vows firm response if Trump unleashes tariffs
- Man Utd lose to Palace, Spurs ease pressure on Postecoglou
- Rubio meets Panama leader on Trump demands for canal
- Starmer hails 'real progress' on UK-Germany ties at Scholz talks
CMSD | -1.59% | 23.84 | $ | |
CMSC | -0.89% | 23.47 | $ | |
BCC | -1.98% | 126.16 | $ | |
NGG | -0.55% | 61.4 | $ | |
RIO | -0.83% | 60.41 | $ | |
SCS | -1.39% | 11.48 | $ | |
RBGPF | 100% | 67.27 | $ | |
BCE | -0.46% | 23.79 | $ | |
RYCEF | -0.81% | 7.43 | $ | |
JRI | -0.32% | 12.53 | $ | |
VOD | -0.82% | 8.54 | $ | |
AZN | -0.68% | 70.76 | $ | |
BTI | -0.1% | 39.64 | $ | |
BP | -1.77% | 31.06 | $ | |
GSK | -0.26% | 35.27 | $ | |
RELX | -0.92% | 49.89 | $ |
Mexican farmers, auto-parts makers urge dialogue with US
Mexican agricultural and auto-parts producers called Sunday for "dialogue" to head off the trade war prompted by US President Donald Trump's decision to impose 25 percent tariffs on imports from Mexico and Canada.
Mexican President Claudia Sheinbaum meantime said that she was waiting for a response from Trump to her proposal for talks and to form a working group on migration and drug trafficking.
She said she would detail her government's next steps by Monday.
The agriculture and auto-parts industries are expected to be among the hardest hit by Trump's action, which he says is designed to pressure the US's closest neighbors -- and partners in a trade accord -- to crack down on migration and drug trafficking.
Both Mexico and Canada have announced counter-tariffs. The US is also targeting China with new 10 percent tariffs on top of those already in force.
The US tariffs, slated to take effect Tuesday, will undermine North America's "competitiveness," and put millions of jobs at risk, Mexico's National Auto Parts Industry (INA) and National Agricultural Council (CNA) said in separate statements.
Emblematic of the United States-Mexico-Canada Agreement (USMCA) negotiated during Trump's first term in office, the Mexican automotive industry exported some $36 billion in goods to the United States in 2023, representing 5 percent of Mexico's GDP, according to Capital Economics.
The automotive sector and auto-parts makers support some 11 million jobs in the three countries, according to the INA.
"Weakening this trade... will only reduce the region's competitiveness and affect stability," according to the union.
The INA says tariffs could add $3,000 to the cost of an average automobile, leading to a drop in overall sales of one million units this year.
Adding to the impact of tariffs, some parts cross national borders seven or eight times in the course of vehicle assembly, the union said.
The CNA farm group, meantime, said that 50 percent of all avocados, tomatoes, chili peppers and berries consumed in the US come from Mexico. The country also exports more than $1.5 billion in beef and pork to the United States.
It called for "unity and dialogue" in the face of US pressure, saying it was putting aside past disputes with Sheinbaum.
Y.Baker--AT