Imposing tariffs on Mexico would have left the United States fighting trade wars with two of its three largest trading partners and would further unnerve financial markets already on edge about a global economic slowdown. "The Tariffs scheduled to be implemented by the US on Monday, against Mexico, are hereby indefinitely suspended," Trump said in a tweet on Friday evening. Trump, who has called the surge in migrants an "invasion," had threatened to impose levies rising to 25 percent unless Mexico addressed the problem. The United States slapped tariffs of up to 25 percent on $200 billion in Chinese imports last month, prompting Beijing to levy its own tariffs on $60 billion in American goods. Even the United States, one of the more solid performers on the economic stage, would not be immune to the downdraft.

Source: bd News24 June 08, 2019 02:15 UTC