'For years we've lost over $100 billion a year on trade with Mexico,' Trump said on SquawkCNBC, naming 'drugs' as one of the biggest 'problems with Mexico.'
The tense negotiations with Mexico took place as the U.S. already was locked in a tariff battle with China and had placed duties on a number of other imports. Trump has said tariffs are essential to restore economic fairness between the U.S. and its global trading partners.
"We talked about it for months and months and months and they wouldn't get there, and we said, 'Hey, look, if you don't get there, we're just going to have to charge you hundreds of billions of dollars in taxes," he said.
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