The Mexican government warned Wednesday that the U.S. economy will be negatively impacted if president-elect Donald Trump follows through on his threat to implement his tariff policy.
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00:00The Mexican government warned Wednesday that the U.S. economy will be negatively impacted
00:05if President-elect Donald Trump follows through on his threat to implement his tariff policy.
00:11This way, the Mexican Secretary of Economy, Marcelo Ebrard, alerted that close to 400,000
00:18jobs would be lost in the United States if tariffs against the country are increased
00:23since the measure would significantly affect the three largest U.S. automotive companies
00:28in Mexico.
00:29Furthermore, Ebrard explained the action would be equivalent to doubling the tax on profits
00:35of U.S. companies, so consumers would have to pay for more expensive products, thus reducing
00:41the nation's economic growth.
00:43In this regard, Mexican President Claudia Sheinbaum stressed her government is working
00:48on an immediate response to the measure.
00:55What we are doing with the letter, with the work that Marcelo the Secretary of Economy
01:00is doing, and that everyone is helping us with, is to put on the table the impacts that
01:06tariffs would have for the three countries that are trading partners.
01:11And as Marcelo explained, it would not only have an impact on Mexico, but also on the
01:16United States, it would have a great impact.
01:20Not only for the companies, but also for the consumer, for those who purchase a vehicle,
01:26which will have an immediate price increase.
01:30So we are putting on the table the impacts that would have.
01:36Also in this context, the Mexican head of state Claudia Sheinbaum said she will always
01:40defend Mexican migrants, assuring they contribute greatly to the United States economy.
01:51We are now talking about the issue of tariffs, but we are also going to talk in this morning
01:57conference and in other spaces about what it would mean if there were deportations.
02:03How do Mexicans contribute to the United States?
02:16From the farmers who work the land, who are outstanding, to the scientists who work somewhere
02:22else, because all of our fellow citizens on the other side of the border contribute to
02:28the economy of the United States.
02:41And we are going to defend and vindicate all of them, because we Mexicans are outstanding
02:46workers as I said.
02:48So, this idea that they are criminals is false.
02:52They are hard-working men-women like no other.