Bank notes of Mexican pesos and US Dollars are pictured in Mexico City, on January 19, 2017. / AFP / PEDRO PARDO
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Talk of a possible 20 percent tax on U.S. imports from Mexico pummeled the Mexican peso and raised eyebrows Friday in Asia, where exports to the U.S. drive growth in many economies.However, the report cited unnamed analysts saying Trump would have to withdraw the U.S. from the North American Free Trade Agreement, or NAFTA, to be able to impose such a tax.Uncertainty over future trade ties with the U.S. rose after Trump pulled the U.S. out of a Pacific Rim trade initiative, the Trans-Pacific Partnership, that formed the centerpiece of former President Barack Obama's moves to strengthen U.S. economic ties in the region.Trump also has threatened to impose steep tariffs on imports from China, which ran a $319 billion surplus with the U.S. in January-November 2016, compared with Japan's $62.4 billion surplus and Mexico's $60 billion, according to U.S. figures.
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