2025-09-11
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This is Andrew Peach with World Business Report.
Good to have you with us today.
Plenty of talk about US tariffs on Mexico.
But now Mexico is following suit and introducing tariffs on cars,
textiles and steel from China and other Asian countries.
The South Korean president says companies will be hesitant about investing in the U.S. after that big immigration raid on a Hyundai plant in Georgia.
And we'll look at some new data on the state of prices,
inflation and employment in the U.S. economy.
We're going to start in Mexico, though, one of many countries affected by U.S. tariffs.
Its president, Claudia Scheinbaum,
has been trying to navigate the tricky relationship with Donald Trump.
U.S. tariffs are now also influencing Mexico's relationships elsewhere.
It's going to raise tariffs on Chinese vehicles from 20 to 50%,
as well as setting levies on goods like textiles and steel.
The tariffs will also apply to other Asian countries.
And it's all part of an economic initiative called Plan Mexico.
What is Plan Mexico?
To produce more in Mexico to stop importing what can be produced here.
That's why we are increasing tariffs within the framework of the World Trade Organization to all countries with which we do not have a commercial treaty.