Officials in Mexico are now raising the alarm over a new proposal in President Biden’s much touted spending bill which would give major tax credits to Americans who buy American built electric vehicles.
The Details: Mexico’s Economy Minister, Tatiana Clouthier, claimed that the proposed tax credit, part of President Biden’s ‘Build Back Better’ agenda runs the risk of pulling jobs away from Mexico and putting them in the US.
The Mexican Auto Industry comprises a significant portion of the country’s GDP.
Mexico is now vowing to challenge the proposed tax credits if and when it is passed at the World Trade Organization.
For its part, Canada has vowed to impose retaliatory tariff’s on US products if the tax credits are passed.
What People are Saying: