Mexico's economy minister sent Donald Trump a fighting message: We will retaliate right away if you hit us with a "major border tax." A Trump tariff "will have a wave of impacts that can take us into a global recession," Guajardo said, speaking in Spanish. In recent weeks, Trump has zeroed in on companies manufacturing in Mexico and selling products in the United States, threatening them with a "major border tax" of 35%. "There will be a major border tax on these companies that are leaving and getting away with murder," Trump said Wednesday. Trump's economic advisers have said they will use the threat of tariffs to get a better trade deal with Mexico.

Source: CNN January 14, 2017 18:34 UTC