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Boeing Gets $3.9B Contract for New Air Force One Jets

Boeing has received a $3.9 billion contract to build two 747-8 aircraft for use as Air Force One by the U.S. president, due to be delivered by December 2024 and painted red, white and blue, officials said on Tuesday.

The Pentagon announced the decision on Tuesday, saying Seattle-based Boeing’s previously awarded contract for development work had been expanded to include design, modification and fielding of two mission-ready presidential 747-8 aircraft.

The contract followed the outlines of the informal deal reached between Boeing and the White House in February. That agreement came after President Donald Trump objected to the $4 billion price tag of a previous Air Force One deal, complaining in a Twitter post that “costs are out of control” and adding “Cancel order!”

The White House said in February the new deal would save taxpayers more than $1.4 billion, but those savings could not be independently confirmed.

Air Force budget documents released in February for fiscal year 2019 disclosed a $3.9 billion cost for the two-aircraft program. The same 2018 budget document, not adjusted for inflation, showed the price at $3.6 billion.

The Boeing 747-8s are designed to be an airborne White House able to fly in worst-case security scenarios, such as nuclear war, and are modified with military avionics, advanced communications and a self-defense system.

A congressional official briefed on Tuesday about the deal indicated it was little changed from the informal agreement reached in February, calling for two 747-8 aircraft to be built for $3.9 billion and delivered by December 2024.

Trump told CBS in an interview that aired on Tuesday that the new model Air Force One would be updated on the inside and have a different exterior color scheme from the current white and two shades of blue dating back to President John F. Kennedy’s administration.

“Red, white and blue,” Trump said. “Air Force One is going to be incredible. It’s going to be the top of the line, the top in the world. And it’s going to be red, white and blue, which I think is appropriate.”

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Boeing Gets $3.9B Contract for New Air Force One Jets

Boeing has received a $3.9 billion contract to build two 747-8 aircraft for use as Air Force One by the U.S. president, due to be delivered by December 2024 and painted red, white and blue, officials said on Tuesday.

The Pentagon announced the decision on Tuesday, saying Seattle-based Boeing’s previously awarded contract for development work had been expanded to include design, modification and fielding of two mission-ready presidential 747-8 aircraft.

The contract followed the outlines of the informal deal reached between Boeing and the White House in February. That agreement came after President Donald Trump objected to the $4 billion price tag of a previous Air Force One deal, complaining in a Twitter post that “costs are out of control” and adding “Cancel order!”

The White House said in February the new deal would save taxpayers more than $1.4 billion, but those savings could not be independently confirmed.

Air Force budget documents released in February for fiscal year 2019 disclosed a $3.9 billion cost for the two-aircraft program. The same 2018 budget document, not adjusted for inflation, showed the price at $3.6 billion.

The Boeing 747-8s are designed to be an airborne White House able to fly in worst-case security scenarios, such as nuclear war, and are modified with military avionics, advanced communications and a self-defense system.

A congressional official briefed on Tuesday about the deal indicated it was little changed from the informal agreement reached in February, calling for two 747-8 aircraft to be built for $3.9 billion and delivered by December 2024.

Trump told CBS in an interview that aired on Tuesday that the new model Air Force One would be updated on the inside and have a different exterior color scheme from the current white and two shades of blue dating back to President John F. Kennedy’s administration.

“Red, white and blue,” Trump said. “Air Force One is going to be incredible. It’s going to be the top of the line, the top in the world. And it’s going to be red, white and blue, which I think is appropriate.”

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Fashion Firms Upend Design Routine to Focus on Speed, Trends

Prototypes? Passe. Fashion company Betabrand saw that knitwear was a hot style in sneakers and wanted to quickly jump on the trend for dressier shoes. It put a poll up on its website asking shoppers what style they liked, and based on that had a shoe for sale online in just one week.

 

What web shoppers saw was a 3-D rendering — no actual shoe existed yet. Creating a traditional prototype, tweaking the design and making a sample would have taken six to nine months, and the company might have missed out on the interest in knit.

 

“The web attention span is short,” said Betabrand CEO Chris Lindland. “So if you can develop and create in a short time, you can be a real product-development machine.”

Shoppers looking at the shoe online could examine the peekaboo detail or check out how the sole was put together, as they would from photos of a real product. They don’t get the actual shoes instantaneously — they have to wait a few months. But the use of digital technology in designing and selling means hot trends are still getting to people far faster than under the old system.

 

“Retailers and brands who are embracing this are going to be winners of the future,” said David Bassuk, managing director of consulting group AlixPartners. “This is flipping the business model on its head.”

 

It’s a big cultural change for clothing makers. For decades, the process meant designers sketched ideas on paper, a design got approved, and the sketches went to a factory that created prototypes. Designers and product developers made tweaks and sent prototypes back and forth. Once a final version was approved, it was sent to the factory to be copied for mass production. Getting something from design to a store could take at least a year.

Now, some companies have designers sketching on high-resolution tablets with software that can email 3-D renderings of garments with specifications straight to factories, as better technology makes the images look real and the pressure to get shoppers new products swiftly intensifies. The goal is to reduce to six months or less the time it takes to get to store shelves.

 

Even chains like H&M, which once set the standard for speed by flying in frequent small batches, are realizing that’s not fast enough. H&M, which has seen sales slow, is starting to digitize certain areas of its manufacturing process.

 

For clothing makers and retailers, the shift means design decisions can happen closer to when the fashions actually hit the shelves or website. That means less guessing so stores aren’t stuck with piles of unsold clothes that need to be discounted.

 

The 3-D technology is used in just 2 percent of the overall supply networks, estimates Spencer Fung, group CEO of Li & Fung, which consults with more than 8,000 retailers including Betabrand and 15,000 suppliers globally. But he believes that will change as retailers begin prioritizing speed and realize that cutting down on design time and prototypes saves money.

 

“You can actually essentially create an entire collection before you even cut one garment,” said Whitney Cathcart, CEO of the Cathcart Technologies consulting firm. “So it reduces waste, it reduces lead times, it allows decision making in real time, so the entire process becomes more efficient.”

 

Fung imagines a scenario where a social media post with a celebrity in a red dress gets 500,000 “likes.” An alert goes to a retailer that this item is trending. Within hours, a digital sample of a similar dress is on its website. A factory can start to produce the dress in days.

 

“Consumers see it and they want it now,” says Michael Londrigan of fashion college LIM in New York. “How do you bring it to market so you don’t miss those dollars?”

 

Nicki Rector of the Sonoma Valley area in California bought a pair of Betabrand’s Western-style boots last summer based on the 3-D rendering.

 

“It looked real,” said Rector, who examined the images of the heel and the insoles. She didn’t worry about buying off a digital image, reasoning that if you’re buying online you can’t really know how something’s going to fit until you put it on your feet. She said knowing it was designed from customer input also helped make the wait OK.

 

Betabrand has sold 40,000 pairs of shoes priced from $128 to $168 over the past year, all from digital renderings, and plans to add 15 to 20 such projects this year.

At a Levi Strauss & Co. research and development facility in San Francisco, designers use programs that offer the look of a finished garment and let them make changes like adding pockets quickly, rather than requiring a new prototype. When they’re set, they can send a file to the factory for mass production. Using digital samples can shorten the design time to one week or less from an eight-week timeframe, Levi’s says.

 

Few companies are yet selling directly to shoppers off digital renderings like Betabrand, and are instead showing them to store buyers or to factories rather than using traditional samples.

 

Xcel Brands uses them for its own brand of women’s tops and for the company’s Judith Ripka jewelry line. The company, which also makes clothes for Isaac Mizrahi and Halston, will start using them for other brands within the year. CEO Robert D’Loren hopes to start putting 3-D samples on its website next year.

 

Tommy Hilfiger has an interactive touchscreen table where buyers can view every item in the collection and create custom orders. And Deckers Brands, the maker of Ugg boots, is using digital renderings of the classic boot in 10 colors, eliminating the need for 10 prototypes for store buyers. That helps reduce cost and increases speed.

 

Using digital designs also mean the exact specifications for different Levi’s design finishes can be uploaded to a machine that uses lasers to scrape away at jeans. No need to teach employees how to execute a designer’s vision, in a minute and a half the lasers have given the jeans the exact weathered look that took workers wielding pumice stones twenty minutes to half an hour.

 

“Thirty years ago, jeans were only available in three shades — rinse, stonewash and bleach,” said Bart Sights, head of the Levi’s Eureka lab. “Our company now designs 1,000 finishes per season.” Such a long lead time “pushes production and creation too far away.” Levi’s latest technology alleviates this issue, he said.

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Fashion Firms Upend Design Routine to Focus on Speed, Trends

Prototypes? Passe. Fashion company Betabrand saw that knitwear was a hot style in sneakers and wanted to quickly jump on the trend for dressier shoes. It put a poll up on its website asking shoppers what style they liked, and based on that had a shoe for sale online in just one week.

 

What web shoppers saw was a 3-D rendering — no actual shoe existed yet. Creating a traditional prototype, tweaking the design and making a sample would have taken six to nine months, and the company might have missed out on the interest in knit.

 

“The web attention span is short,” said Betabrand CEO Chris Lindland. “So if you can develop and create in a short time, you can be a real product-development machine.”

Shoppers looking at the shoe online could examine the peekaboo detail or check out how the sole was put together, as they would from photos of a real product. They don’t get the actual shoes instantaneously — they have to wait a few months. But the use of digital technology in designing and selling means hot trends are still getting to people far faster than under the old system.

 

“Retailers and brands who are embracing this are going to be winners of the future,” said David Bassuk, managing director of consulting group AlixPartners. “This is flipping the business model on its head.”

 

It’s a big cultural change for clothing makers. For decades, the process meant designers sketched ideas on paper, a design got approved, and the sketches went to a factory that created prototypes. Designers and product developers made tweaks and sent prototypes back and forth. Once a final version was approved, it was sent to the factory to be copied for mass production. Getting something from design to a store could take at least a year.

Now, some companies have designers sketching on high-resolution tablets with software that can email 3-D renderings of garments with specifications straight to factories, as better technology makes the images look real and the pressure to get shoppers new products swiftly intensifies. The goal is to reduce to six months or less the time it takes to get to store shelves.

 

Even chains like H&M, which once set the standard for speed by flying in frequent small batches, are realizing that’s not fast enough. H&M, which has seen sales slow, is starting to digitize certain areas of its manufacturing process.

 

For clothing makers and retailers, the shift means design decisions can happen closer to when the fashions actually hit the shelves or website. That means less guessing so stores aren’t stuck with piles of unsold clothes that need to be discounted.

 

The 3-D technology is used in just 2 percent of the overall supply networks, estimates Spencer Fung, group CEO of Li & Fung, which consults with more than 8,000 retailers including Betabrand and 15,000 suppliers globally. But he believes that will change as retailers begin prioritizing speed and realize that cutting down on design time and prototypes saves money.

 

“You can actually essentially create an entire collection before you even cut one garment,” said Whitney Cathcart, CEO of the Cathcart Technologies consulting firm. “So it reduces waste, it reduces lead times, it allows decision making in real time, so the entire process becomes more efficient.”

 

Fung imagines a scenario where a social media post with a celebrity in a red dress gets 500,000 “likes.” An alert goes to a retailer that this item is trending. Within hours, a digital sample of a similar dress is on its website. A factory can start to produce the dress in days.

 

“Consumers see it and they want it now,” says Michael Londrigan of fashion college LIM in New York. “How do you bring it to market so you don’t miss those dollars?”

 

Nicki Rector of the Sonoma Valley area in California bought a pair of Betabrand’s Western-style boots last summer based on the 3-D rendering.

 

“It looked real,” said Rector, who examined the images of the heel and the insoles. She didn’t worry about buying off a digital image, reasoning that if you’re buying online you can’t really know how something’s going to fit until you put it on your feet. She said knowing it was designed from customer input also helped make the wait OK.

 

Betabrand has sold 40,000 pairs of shoes priced from $128 to $168 over the past year, all from digital renderings, and plans to add 15 to 20 such projects this year.

At a Levi Strauss & Co. research and development facility in San Francisco, designers use programs that offer the look of a finished garment and let them make changes like adding pockets quickly, rather than requiring a new prototype. When they’re set, they can send a file to the factory for mass production. Using digital samples can shorten the design time to one week or less from an eight-week timeframe, Levi’s says.

 

Few companies are yet selling directly to shoppers off digital renderings like Betabrand, and are instead showing them to store buyers or to factories rather than using traditional samples.

 

Xcel Brands uses them for its own brand of women’s tops and for the company’s Judith Ripka jewelry line. The company, which also makes clothes for Isaac Mizrahi and Halston, will start using them for other brands within the year. CEO Robert D’Loren hopes to start putting 3-D samples on its website next year.

 

Tommy Hilfiger has an interactive touchscreen table where buyers can view every item in the collection and create custom orders. And Deckers Brands, the maker of Ugg boots, is using digital renderings of the classic boot in 10 colors, eliminating the need for 10 prototypes for store buyers. That helps reduce cost and increases speed.

 

Using digital designs also mean the exact specifications for different Levi’s design finishes can be uploaded to a machine that uses lasers to scrape away at jeans. No need to teach employees how to execute a designer’s vision, in a minute and a half the lasers have given the jeans the exact weathered look that took workers wielding pumice stones twenty minutes to half an hour.

 

“Thirty years ago, jeans were only available in three shades — rinse, stonewash and bleach,” said Bart Sights, head of the Levi’s Eureka lab. “Our company now designs 1,000 finishes per season.” Such a long lead time “pushes production and creation too far away.” Levi’s latest technology alleviates this issue, he said.

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Trade Pain: US Small Companies Hit by Import, Export Tariffs

Time and effort have gone down the drain for Steve Gould, who is scrambling to find new customers for his gin, whiskey and other spirits since the United States has taken a tough stance on trade issues.

Before the European Union retaliated against new U.S. tariffs with taxes of its own, Gould expected revenue from the EU at his Golden Moon Distillery in Colorado to reach $250,000 or $350,000 this year. Now he’s concerned that European exports will total just $25,000. Golden Moon already saw an effect when then-candidate Donald Trump made trade an issue during the 2016 campaign. Gould lost one of his Mexican importers and an investor, as overseas demand for small-distiller spirits was growing.

“We’ve lost years of work and hundreds of thousands of dollars in building relationships with offshore markets,” says Gould, who’s hoping to find new customers in countries like Japan. 

President Donald Trump’s aggressive trade policies are taking a toll on small U.S. manufacturers. The president has imposed tariffs of 25 percent on steel and 10 percent on aluminum imports from most of the world, including Europe, Mexico and Canada, driving up costs for companies that rely on those metals. And he has slapped 25 percent taxes on $34 billion in Chinese imports in a separate trade dispute, targeting mostly machinery and industrial components so far. Trump’s tariffs have drawn retaliation from around the world. China is taxing American soybeans, among other things; the European Union has hit Harley-Davidson motorcycles and Kentucky bourbon; Canada has imposed tariffs on a range of products — from U.S. steel to dishwasher detergent.

More businesses could be feeling the pain as the trade disputes escalate — the administration on Tuesday threatened to impose 10 percent tariffs on thousands of Chinese products including fish, apples and burglar alarms. And China responded with a tariff threat of its own, although it didn’t say what U.S. exports would be targeted.

Small businesses are particularly vulnerable to tariffs because they lack the financial resources larger companies have to absorb higher costs. Large companies can move production overseas — as Harley-Davidson recently announced it would do to escape 25 percent retaliatory tariffs in Europe. But “if you’re a small firm, it’s much harder to do that; you don’t have an international network of production locations,” says Lee Branstetter, professor of economics and public policy at Carnegie Mellon University’s Heinz College.

Shifting manufacturing away from items that use components that are being taxed is also harder since small businesses tend to make fewer products, he says. And if tariffs make it too expensive to export to their current markets, small companies may not be able to afford the effort of finding new ones.

Small-business owners have been growing more confident over the past year as the economy has been strong, and they’ve been hiring at a steady if not robust pace. But those hurt by tariffs are can lose their optimism and appetite for growth within a few months.

“They have narrow profit margins and it’s a tax,” says Kent Jones, an economics professor at Babson College. “That lowers their profit margins and increases the possibility of layoffs and even bankruptcies.”

Yacht company

Bertram Yachts is one company finding it trickier to maneuver. The U.S. has put a 25 percent tariff on hundreds of boat parts imported from China, where most marine components are made. And European countries have imposed a 25 percent tariff on U.S.-made boats. Last year, Bertram exported about a third of its boats, with half going to Europe.

“We have been squeezed on both sides,” says Peter Truslow, CEO of the Tampa, Florida-based boat maker.

Truslow doesn’t know how the tariffs will affect the company’s sales and profits, but dealers he’s spoken to in Europe have already gotten cancellations on boats that run into the millions of dollars. Bertram plans to try to build up its strong U.S. business and seek more customers in countries that aren’t involved in trade disputes with the U.S., including Japan and Australia.

Still, the company’s growth and job creation stand to slow. “It’s probably going to be more about a reduction in hiring than it is about layoffs,” Truslow says.

The ripples are being felt across the industry, says Tom Dammrich, president of the National Marine Manufacturers Association trade group. He estimates there are about 1,000 manufacturers, almost all small or mid-size businesses, and says some parts can only be bought from China.

Metal fabrication

Matt Barton’s metal fabrication company, which makes custom replacement parts for farm equipment, outdoor signs and people who race hot rods, is paying its suppliers up to 20 percent more for metals than it did a year ago.

Prices had soared as much as 40 percent months ago amid expectations of U.S. tariffs on aluminum and steel. They have since steadied, but are expected to remain high for three to six months. Barton’s Pittsboro, Indiana-based company, The Hero Lab, is absorbing part of the increases. Some racing customers are still delaying orders.

“What they budgeted to cost $1,000 now is now $1,200 or $1,500,” Barton says. “They’re pushing their orders back four to six weeks, waiting for a few more paychecks to come in.”

Cheese maker

Jeff Schwager’s cheese company, Sartori, is selling products to Mexico at break-even prices because of that nation’s retaliatory 25 percent tariff. Twelve percent of the Plymouth, Wisconsin-based company’s revenue comes from exports, which is the fastest-growing segment of the business.

Sartori and its Mexican importer are each absorbing half the costs of the tariff. Schwager, the CEO, doesn’t see leaving the Mexican market as an option.

“If you lose space on the grocery store shelf, or you’re taken out of recipes in restaurants, that takes years to get back,” he says. He hopes the trade dispute can be resolved and tariffs rolled back.

Flatware maker

But some small manufacturers believe they can benefit from a trade dispute. Greg Owens, president of flatware maker Sherrill Manufacturing, says if his competitors in China are hit by U.S. tariffs, he could see revenue increase.

“They would have to raise the retail price, which would allow us to raise our prices,” says Owens, whose company is located in Sherrill, New York. In turn, Owens says, that would allow “long overdue” raises for workers and upgrades to capital equipment.

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Venezuela Pleads Guilty in US to Role in PDVSA Bribe Scheme

A former official at a Venezuelan state-run electric company pleaded guilty on Monday to U.S. charges that he participated in a scheme to solicit bribes in exchange for helping vendors win favorable treatment from state oil company PDVSA.

Luis Carlos De Leon Perez, 42, pleaded guilty in federal court in Houston to conspiring to violate the Foreign Corrupt Practices Act and to conspiring to commit money laundering, the U.S. Justice Department said.

He became the 12th person to plead guilty as part of a larger investigation by the Justice Department into bribery at Petroleos de Venezuela SA that became public with the arrest of two Venezuelan businessmen in December 2015.

The two men were Roberto Rincon, who was president of Tradequip Services & Marine, and Abraham Jose Shiera Bastidas, the manager of Vertix Instrumentos. Both pleaded guilty in 2016 to conspiring to pay bribes to secure energy contracts.

De Leon is scheduled to be sentenced on Sept. 24. His lawyers did not respond to requests for comment.

De Leon was arrested in October 2017 in Spain and was extradited to the United States after being indicted along with four other former Venezuelan officials on charges they solicited bribes to help vendors win favorable treatment from

PDVSA.

An indictment said that from 2011 to 2013 the five Venezuelans sought bribes and kickbacks from vendors to help them secure PDVSA contracts and gain priority over other vendors for outstanding invoices during its liquidity crisis.

Prosecutors said De Leon was among a group of PDVSA officials and people outside the company with influence at it who solicited bribes from Rincon and Shiera. De Leon worked with those men to then launder the bribe money, prosecutors said.

De Leon also sought bribes from the owners of other energy companies and directed some of that money to PDVSA officials in order help those businesses out, prosecutors said.

Among the people indicted with De Leon was Cesar David Rincon Godoy, a former general manager at PDVSA’s procurement unit Bariven. He pleaded guilty in April to one count of conspiracy to commit money laundering.

Others charged included Nervis Villalobos, a former Venezuelan vice minister of energy; Rafael Reiter, who worked as PDVSA’s head of security and loss prevention; and Alejandro Isturiz Chiesa, who was an assistant to Bariven’s president.

Villalobos and Reiter were, like De Leon, arrested in Spain, where they remain pending extradition, the Justice Department said. Isturiz remains at large.

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Venezuela Pleads Guilty in US to Role in PDVSA Bribe Scheme

A former official at a Venezuelan state-run electric company pleaded guilty on Monday to U.S. charges that he participated in a scheme to solicit bribes in exchange for helping vendors win favorable treatment from state oil company PDVSA.

Luis Carlos De Leon Perez, 42, pleaded guilty in federal court in Houston to conspiring to violate the Foreign Corrupt Practices Act and to conspiring to commit money laundering, the U.S. Justice Department said.

He became the 12th person to plead guilty as part of a larger investigation by the Justice Department into bribery at Petroleos de Venezuela SA that became public with the arrest of two Venezuelan businessmen in December 2015.

The two men were Roberto Rincon, who was president of Tradequip Services & Marine, and Abraham Jose Shiera Bastidas, the manager of Vertix Instrumentos. Both pleaded guilty in 2016 to conspiring to pay bribes to secure energy contracts.

De Leon is scheduled to be sentenced on Sept. 24. His lawyers did not respond to requests for comment.

De Leon was arrested in October 2017 in Spain and was extradited to the United States after being indicted along with four other former Venezuelan officials on charges they solicited bribes to help vendors win favorable treatment from

PDVSA.

An indictment said that from 2011 to 2013 the five Venezuelans sought bribes and kickbacks from vendors to help them secure PDVSA contracts and gain priority over other vendors for outstanding invoices during its liquidity crisis.

Prosecutors said De Leon was among a group of PDVSA officials and people outside the company with influence at it who solicited bribes from Rincon and Shiera. De Leon worked with those men to then launder the bribe money, prosecutors said.

De Leon also sought bribes from the owners of other energy companies and directed some of that money to PDVSA officials in order help those businesses out, prosecutors said.

Among the people indicted with De Leon was Cesar David Rincon Godoy, a former general manager at PDVSA’s procurement unit Bariven. He pleaded guilty in April to one count of conspiracy to commit money laundering.

Others charged included Nervis Villalobos, a former Venezuelan vice minister of energy; Rafael Reiter, who worked as PDVSA’s head of security and loss prevention; and Alejandro Isturiz Chiesa, who was an assistant to Bariven’s president.

Villalobos and Reiter were, like De Leon, arrested in Spain, where they remain pending extradition, the Justice Department said. Isturiz remains at large.

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US Launches Five WTO Challenges to Retaliatory Tariffs

The United States launched five separate World Trade Organization dispute actions on Monday challenging retaliatory tariffs imposed by China, the European Union, Canada, Mexico and Turkey following U.S. duties on steel and aluminum.

The retaliatory tariffs on up to a combined $28.5 billion worth of U.S. exports are illegal under WTO rules, U.S. Trade Representative Robert Lighthizer said in a statement.

“These tariffs appear to breach each WTO member’s commitments under the WTO Agreement,” he said. “The United States will take all necessary actions to protect our interests, and we urge our trading partners to work constructively with us on the problems created by massive and persistent excess capacity in the steel and aluminum sectors.”

Lighthizer’s office has maintained that the tariffs the United States has imposed on imports of steel and aluminum are acceptable under WTO rules because they were imposed on the grounds of a national security exception.

Mexico said it would defend its retaliatory measures, saying the imposition of U.S. tariffs was “unjustified.”

“The purchases the United States makes of steel and aluminum from Mexico do not represent a threat to the national security,” Mexico’s Economy Ministry said in a statement.

“On the contrary, the solid trade relationship between Mexico and the U.S. has created an integrated regional market where steel and aluminum products contribute to the competitiveness of the region in various strategic sectors, such as automotive, aerospace, electrical and electronic,” the ministry added.

Lighthizer said last month that retaliation had no legal basis because the EU and other trading partners were making false assertions that the U.S. steel and aluminum tariffs are illegal “safeguard” actions intended to protect U.S. producers.

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