Deutsche Bank is out with a new report warning that President Donald Trump’s punitive proposed tariffs on Mexico could “cripple” U.S. automakers who rely on imports of both cars and parts from Mexico to keep costs down:

The biggest winners of the tariffs will be Japanese and Korean automakers:

Whoops?

Now, there’s a good chance these tariffs never go into effect anyway.

Mexico’s Foreign Affairs Sec. Marcelo Ebrard tweeted that he’s been in contact with Jared Kushner and Mike Pompeo about Trump’s plan. Translation:

For boarding flight to Washington via Houston, I just got a call with Jared Kushner and Mike Pompeo. Negotiation process starts. I heard interest and respect for President Lopez Obrador’s letter. We move forward.

And he’ll be meeting with them on Wednesday:

I inform you that the summit to resolve the US dispute with our country will be on Wednesday in Washington. Mike POMPEO heads American delegation. This is the Mexican server. There’s a dialogue arrangement. We will be firm and defend the dignity of Mexico.

Tune in next week. . .

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