QUARTZ – US-Mexico trade is on the verge of a renovation. US president Donald J. Trump says he wants accelerate talks to renegotiate the North American Free Trade Agreement, a deal he says has been a ‘catastrophe’ for America workers. Trump has floated a 20% import tax on all Mexican products to finance his border wall.
Because most of the $304.6 billion in goods that cross the US’s southern border are untaxed under NAFTA, Trump has lots of room to run. A blanket tax, however, may not be the best approach. Tariffs are typically applied in a much more nuanced way.