Mexican President urges to exempt oil from tariff warfare

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Mexican President urges to exempt oil from tariff warfare

On Sunday, the 2nd of June 2019, the Mexican president, Andres Manuel Lopez Obrador again urged crude oil and energies to be exempted from tariff warfare amid rising tension with United States, adding that Mexico would ask for tenders of six construction contracts by June for an oil refinery planned in the Southern Mexican state of Tabasco.

Tensions between United States and Mexico had been running high through the veins over the recent weeks, as United States President Donald Trump had doubled down his threat on Mexico tariff on a Sunday (June 2nd) tweet, saying that he had been determined to incline tariffs on all imports of Mexico including energies and oil by June 10th, unless they halted the illegal immigrant rush through the Southern Mexico-US border.

None the less, as a response later on Sunday (June 2nd), adding that Mexico would never be colonized to any country, Mexican President said to a cheering crowd at a ceremony to mark the launch of refinery’s construction, “We, our children and grandchildren aspire to live in a free, independent, sovereign country and we do not want to be a colony of any foreign country.

The most important thing at this moment in time is producing petroleum. We have, I repeat, a good relationship with the United States, and with all governments in the world, but we do not want to be exposed and therefore it’s important that we are self-sufficient”.

In point of fact, almost all of Mexico’s petroleum production had been exported to United States, which remained as a critical sum of Mexico’s revenue generation, and had the energies not been exempted from Trump’s new Mexico tariff scheduled to be in effect by June 10th, Mexican economy would eventually contract and enter into a recession, analysts fretted.