So far, the fallout from US President-elect Donald Trump’s support for a so-called “border tax” has fallen mainly on Mexico.
Dark warnings that car manufacturers that transfer more production south of the Rio Grande will face a big tax bill if they sell the vehicles in the US have seemingly led several to change tack, undermining the attractiveness of Mexico and its army of low-cost workers and sending the peso sliding to a record nominal low. However, a border tax, if it comes to pass, could have a swingeing impact across much of the emerging world, with much of the damage ultimately inflicted on those countries with the largest external financing requirements, such as Turkey, Indonesia and South Africa .... https://www.ft.com
