Mexico hits US pork, grapes in retaliation against tariffs

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The move comes one day after Mexico's Economy Ministry said it will start proceedings against the the World Trade Organization, where it's seeking a dispute settlement over the US tariffs on Mexican products - 25 percent on steel and 10 percent on aluminum - formally took effect last Friday.

The World Trade Organization received a complaint Tuesday from Mexico, a WTO official in Geneva said.

The peso sank to its weakest in more than a year earlier Tuesday on concern the US may leave the North America Free Trade Agreement and try to negotiate two separate free trade deals with Mexico and Canada.

The U.S. last week said it's levying the new metals duties on imports from the nations and the European Union on national security grounds, ending their temporary exemptions.

Other US allies have also reacted with fury and retaliation, with fears building of a global trade war.

Canadian Prime Minister Justin Trudeau called the US tariffs on Canadian aluminum and steel "unacceptable".

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"We support the position of the Mexican government to impose the equivalent measure on diverse products", Mexico's Business Coordinating Council said of the retaliatory tariffs.

The result has been a boon for Texas and the United States, as well as Mexico and Canada.

So the Trump administration's new tariffs on NAFTA partners as well as its goal of adding a sunset provision to NAFTA almost guarantees that fewer companies will allow their supply chains to straddle North American borders.

"It is very hard to reach a negotiation when measures of this nature are suddenly taken", the minister said.

United States media reported in February that the two sides shelved tentative plans for a visit to Washington by Pena Nieto as tensions persisted over a proposed border wall.