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1.Market Observations, 8.Was Sticky

7 June 2018 (AFR) – Mexico retaliates against steel levies with tariffs on US imports

(7 June 2018, AFR, p25, by Jude Webber, Adam Samson and Gregory Meyer)

‘The peso plunged on Wednesday (AEST) after Mexico imposed tariffs on US imports including bourbon, apples, potatoes, cheese and pork in retaliation to the Trump administration’s levies on steel and aluminium. The announcement of tariffs ranging from 15 per cent to 25 per cent came as the future of the Nafta trade agreement came under fresh attack from the White House. “An open trade war has finally erupted in the backyard of the US, with potentially dire repercussions for the survival of Nafta,” said Eswar Prasad, a professor of…’

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