President-elect Donald Trump has warned BMW of a potential 35 percent tax on BMW cars imported from its new plant in Mexico.
Guajardo said his nation will retaliate if the Trump administration imposes the tariff.
"There will be a major border tax on these companies that are leaving and getting away with murder", Trump said at Wednesday. He went on to say that Mexico has to be extremely prepared for such measure. They've indicated renegotiating NAFTA, the free trade deal between Canada, Mexico and the USA, is a Day 1 priority.
Trump, who takes office in less than a week, has promised a "major border tax" on companies that shift jobs outside the United States, and called the North American Free Trade Agreement (NAFTA) with Mexico and Canada a "disaster", threatening to tear it up in the hope of bringing jobs back to America.
Guajardo also warned that the U.S. risked harming its own interests in any renegotiation of NAFTA.
"If I were Mr. Trump, I'd treat them with more respect", Guajardo said, referring to the Toyota incident.
Mexico is already suffering economically with the threats as the peso plunged after the election and remains near an all-time low.
The U.S. Chamber of Commerce estimates 6 million U.S.jobs are linked to trade with Mexico. Mexico's central bank dimmed its economic forecast this year, citing the US election outcome.
"We are the second-largest buyer of USA products", Guajardo said. "All the states that voted for Trump would be the hardest hit if the agreement with Mexico is broken".
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