Associated Press
MEXICO CITY — President Andres Manuel Lopez Obrador launched an ambitious plan Saturday to stimulate economic activity on the Mexican side of the U.S.-Mexico border, reinforcing his country’s commitment to manufacturing and trade despite recent U.S. threats to close the border entirely.
Mexico will slash income and corporate taxes to 20 percent from 30 percent for 43 municipalities in six states just south of the U.S., while halving to 8 percent the value-added tax in the region. Business leaders and union representatives have also agreed to double the minimum wage along the border, to 176.2 pesos a day, the equivalent of $9.07 at current exchange rates.
Lopez Obrador who took office on Dec. 1, said the idea is to stoke wage and job growth via fiscal incentives and productivity gains. U.S. President Donald Trump has repeatedly complained that low wages in Mexico lure jobs from the U.S. Mexico committed to boost wages during last year’s negotiations to retool its free trade agreement with the U.S. and Canada.
Speaking from Ciudad Juarez, a manufacturing hub south of El Paso, Texas, Lopez Obrador said Saturday he agrees with Trump that Mexican wages “should improve.” He decried, for instance, that Mexican auto workers earn a fraction of what their U.S. counterparts take home, topping out at just $3 an hour versus a typical wage of $23 an hour in the U.S.
Yet the economic plan comes at a delicate moment for the border region. Trump threatened as recently as last week to close the U.S.-Mexico border “entirely” if Democrats refuse to allot $5.6 billion to expand the wall that separates the two countries.
Economy Minister Graciela Marquez noted Saturday that the border region targeted for economic stimulus accounts
MEXICO CITY — President Andres Manuel Lopez Obrador launched an ambitious plan Saturday to stimulate economic activity on the Mexican side of the U.S.-Mexico border, reinforcing his country’s commitment to manufacturing and trade despite recent U.S. threats to close the border entirely.
Mexico will slash income and corporate taxes to 20 percent from 30 percent for 43 municipalities in six states just south of the U.S., while halving to 8 percent the value-added tax in the region. Business leaders and union representatives have also agreed to double the minimum wage along the border, to 176.2 pesos a day, the equivalent of $9.07 at current exchange rates.
Lopez Obrador who took office on Dec. 1, said the idea is to stoke wage and job growth via fiscal incentives and productivity gains. U.S. President Donald Trump has repeatedly complained that low wages in Mexico lure jobs from the U.S. Mexico committed to boost wages during last year’s negotiations to retool its free trade agreement with the U.S. and Canada.
Speaking from Ciudad Juarez, a manufacturing hub south of El Paso, Texas, Lopez Obrador said Saturday he agrees with Trump that Mexican wages “should improve.” He decried, for instance, that Mexican auto workers earn a fraction of what their U.S. counterparts take home, topping out at just $3 an hour versus a typical wage of $23 an hour in the U.S.
Yet the economic plan comes at a delicate moment for the border region. Trump threatened as recently as last week to close the U.S.-Mexico border “entirely” if Democrats refuse to allot $5.6 billion to expand the wall that separates the two countries.
Economy Minister Graciela Marquez noted Saturday that the border region targeted for economic stimulus accounts
7 comments:
Your best story of the week and you didn't even write it, Juan!
How about it’s time México Grow a pair of balls and figures out how to take care of its own people? Been suck’en on the USA tit for to long. Enough already. Stop your corruption. Stop killing each other. Stop exporting your drugs. BUILD THE WALL.
your secret admirer Juan?
Long past due for Mexico to start taking care of folks other than the ricos. This is just one small step to being where they should be. Mexico has great potential, but has been shackled since it's birth by corruption and crime.
How about stop the massacre of color people, students, corruption in all phases of government, stop selling weapons to MRs, stop abusing women, this is a cesspool of crime and you worry about a WALL que pendejo
Mexican President deserves the benefit of the doubt. Let us give him time for his plan to work. Immigration into the U.S. will never cease to exist. That's what the U.S. was founded upon.. Educate yourself. The wall is Trump's political agenda. Faking the News is Trump's expertise..
Divide the country from ocean to ocean give the south portion to the racist republicans and see what they can do. pinche pendejos.
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