*US President Donald Trump’s top economic advisor, Larry Kudlow, has called the tension over trade tariffs between the US and its close allies which include Mexico a “family quarrel”. In a television interview with
NBC News, Kudlow denied that the US imposition of steel and aluminium tariffs on its allies and their consequent announcement of retaliatory measures on US goods amounted to a trade war. He also rejected criticism of actions by the Trump administration saying that the world trade system was broken, and that Trump was the biggest trade reformer in the past 20 years. On 31 May the US lifted the exemption on the tariffs for some of its trading partners including Mexico, Canada, and the European Union. On the same day, Mexico’s economy ministry announced that Mexico would respond with retaliatory tariffs on US goods including steel and some agricultural products, a list it expanded on 5 June.
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