Trump, Mexico
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Slowing exports to China helped the deficit to balloon as the value of items shipped from Mexico to China declined for a second consecutive year.
The U.S. ends a nearly 30-year-old trade agreement with Mexico this month. Here's how it could impact the cost of this kitchen staple.
Mexico is aiming for a U.S. trade agreement before the Aug. 1 deadline, while the European Union said it is ready to retaliate against any tariffs.
The move comes amid a separate push by President Trump to increase tariffs on dozens of U.S. trading partners, including Mexico, which was told over the weekend to expect 30% tariffs starting in August.
U.S. President Donald Trump said Tuesday that a trade deal with Indonesia was reached to set 19% tariffs on its U.S. exports.
U.S. trade with Mexico rises to $74B in May; Redwood Logistics opens office in Queretaro, Mexico; and Franke Group opens production plant in San Luis Potosí, Mexico.