>> The pushback from Mexico continues after Donald Trump floated plans to fund his border wall with a 20% tax on goods from south of the border. Mexico's Foreign Minister on Thursday saying the US president's approach would circle back to American consumers. A tax on American imports of Mexican products isn't a way to get Mexico to pay for a wall.
Here in the US it would affect avocados, washing machines, televisions, and number of other products that American families buy, immediately affecting the US economy. Mexico wouldn't necessarily pay any import taxes for the wall directly. The burden would fall largely on foreign companies producing goods in Mexico and selling them in the US, potentially pumping up prices for American consumers.
Relations between the two sides have taken a nosedive since the start of Trump's election campaign, his trade rhetoric hitting the Mexican economy, which ships 80% of its exports north of the border. Trump has repeatedly said Mexico is going to pay for the wall, prompting President Pena Nieto to cancel a planned meeting between the two leaders set for next Tuesday.
Mexico's Foreign Minister says he's prepared to work with Trump but the idea of his country paying for the wall is quote, beyond negotiation.>>