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Mexico sets tariffs against US products

U.S. President, Donald Trump announced last week that the U.S. will levy tariffs on steel and aluminum imports that comes from Mexico, Canada and the EU.

In response to that, the Mexican government has also set new tariffs on US products, the list includes whiskey, cheese, steel, bourbon and pork.

This decision by the Mexican industry will hit domestic businesses, who will face a 20% tariff on their exports to Mexico, because Mexico was the highest imports of US pork. The tariffs amount to $3 billion worth of the US exports, the tariffs on the products range from 15% to 25%, which will raise the prices of US products. 

Mexico is the second largest market for the US exports, Canada being the largest. Mexico is estimated to buy close to $227 billion word of US products. The tariffs are surely impact the US economy, business and thousands of jobs.

(Source: CNN Money and BBC)

BRICS Journal TV: In Conversation With Onkar Kanwar

Board Member of the BRICS Business Council in India, Mr Onkar Kanwar chats to BRICS Journal TV about the first-ever trade exhibition element to the annual BRICS Summit

BRICS Journal TV: In Conversation With Danisa Eileen Baloyi (BBC President)

BRICS Journal Managing Editor, Vuyo Dlamini sat down with the President of the Black Business Council in South Africa, Danisa Eileen Baloyi to chat about the rise of Black Industrialists in South Africa and how South Africa can work alongside India to stimulate our manufacturing sector.

 

 

BRICS Journal TV: 2016 BRICS Trade Fair and Exhibition in India

BRICS Journal sets the scene at the Inaugral BRICS Journal Trade Fair and Exhibition that kicked off in New Delhi, India on 12 October 2016. We chat to Executive Chairman of BRICS Journal, Sthe Mabanga, as well as KZN MEC of Economic Development, Sihle Zikalala and other participants.

We also take a walk through the South African Pavillion at the Trade Fair

Location: Pragati Maidan

 

8th BRICS Summit

The 8th BRICS Summit will be held at the Indian state of Goa. In February 2016, India assuemd chairmanship of BRICS. External Affairs minister, Sushma Swaraj said that this year’s emphasis during its chairmanship will be institution building, implementation of previous commitments flowing from the past Summits, and exploring synergies among the existing mechanisms.

A series of events, such as Under-17 Football Tournament, BRICS Film Festival, BRICS Wellness Forum, BRICS Youth Forum, Young Diplomat’s Forum, BRICS Trade Fair and BRICS Friendship Cities Conclave will be hosted across India. This, according to Swaraj will create an occasion for BRICS partners to visit different cities of India. Meanwhile, the National Development Bank approved its first set of laons of $811 million that were disbursed to the BRICS countries in April 2016. The projects within these countries are in the renewal energy development sphere.

www.brics2016.gov.in