Mexicans satisfy bogeyman

World | AGENCE FRANCE-PRESSE 10 Jun 2019

Presidents Donald Trump and Andres Manuel Lopez Obrador each declared a deal averting US tariffs on Mexican goods a victory.

But as markets breathed a sigh of relief, there were worries about migrant strains that caused the trouble.

Lopez Obrador said the bottom line was simple: "There will not be an economic or financial crisis in Mexico."

Economists had warned the pain of Trump's threatened tariffs - set to start at 5 percent today and to rise incrementally to 25 percent by October - and Mexico's likely retaliation would have been acute for both nations.

Instead, the two struck a deal for Mexico to bolster security on its southern border and to expand its policy of taking back migrants - most from violence-riven Guatemala, Honduras and El Salvador - who had crossed into the United States.

Meanwhile, the Americans would process asylum claims.

Trump hailed it as a victory after a week of terrifying his southern neighbor, whose economy depends heavily on exports to the United States.

The relief was palpable in the Mexican border city of Tijuana, where Lopez Obrador led a rally to celebrate the deal and "the friendship of the people of Mexico and the United States."

But the leftist leader warned the Americans it was not enough for Mexico to tighten its borders, saying Washington had to invest in economic development in Central America to stem the exodus.

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