Mexican economy minister says Donald Trump's planned border tax to pay for a wall is "a problem for the entire world".
US government has started the construction of fencing along roughly one-third of the border.
Mexican top government official has said that mandating the country to pay the US in taxes for the construction of a border wall could cause a global recession.
Mexico's economy minister, Ildefonso Guajardo, further stated Donald Trump's proposed border tax "was a problem for the entire world" and that it "would have a wave of impacts that could take us into a global recession".
He termed the border construction has a "Walls of Shame": (The US-Mexico Border Wall)
Trump, has promised a "major border tax" on companies that shift jobs outside the United States, and called the North American Free Trade Agreement (NAFTA) with Mexico and Canada a "disaster," threatening to tear it up in the hope of bringing jobs back to America.
He further stated that"It is clear we need to be prepared to immediately neutralise the impact of such a measure,"
Guajardo also warned that the US risked harming its own interests in any renegotiation of NAFTA.
"Mexico are the second-largest buyer of US products. Mexico is the biggest customers for pork, corn and fructose.
Trump has attacked Mexico over trade, jobs and immigration since he first declared aspiration for the White House in 2015.
The peso currency has fallen to historic lows, unnerving investors in Latin America's second largest economy.
The US government has already constructed fencing along roughly one-third of the 3,100km southern border.http://ebenhood..in/2017/01/us-border-tax-could-trigger-global_14.html?m=1