Meanwhile, Mexico plans to proceed with ratification of the new free trade accord with the US and Canada despite the tariff threat. Lopez Obrador said both Mexicans and Americans are in favour of free trade and Trump’s shock announcement on Thursday would not change things. Trump’s announcement rattled investors who feared that worsening trade friction could hurt the global economy. “For GM, we roughly estimate that a 5% tariff could be a several-hundred-million dollar annual earnings hit,” the analyst wrote. Kansas City Southern operates a commercial corridor of the Mexican railway system and owns a track between Mexico City and Laredo, Texas.

Source: Bangkok Post May 31, 2019 13:41 UTC