The US just lost a trade battle with Mexico [View all]

[spanone]

aren't we all tired of winning??????


The US just lost a trade battle with Mexico. It's the first loss of the Trump era.

Mexico and the US have fought for years over tuna. The US insists that any Mexican tuna sold in the US must be "dolphin safe," meaning dolphins weren't killed by tuna fisherman, which was once common. Mexico says its fisherman play by the rules. The US government disagrees.

On Tuesday, the World Trade Organization ruled in Mexico's favor, allowing it to impose trade sanctions worth $163 million a year against the US. The WTO says that's how much money Mexico has lost from the US unfairly penalizing Mexican tuna.

The timing, however coincidental, is sensitive. President Trump wants to renegotiate NAFTA, the free trade agreement between the US, Mexico and Canada.

Trump's administration took its first steps to crack down on trade with Canada on Monday night when the Commerce Department announced a 20% tariff against Canadian softwood lumber. A war of words between Canadian and American leaders has followed.

http://money.cnn.com/2017/04/25/news/economy/mexico-us-wto-tuna/index.html