Moody's: Mexico’s tariffs on US Goods will have marginal macroeconomic impact

In a recently published report, Moody's said that they were not expecting Mexico's tariffs on United States good would have a marginal macroeconomic impact but that was a signal of continued strained bilateral relations. 

Key quotes (via Reuters)

• U.S. Tariffs, Mexico's retaliatory measures, with similar measures from Canada & EU may give rise to macroeconomically disruptive trade barriers.
• Immediate economic impact of Mexico's tariffs on U.S. goods will be negative for U.S. economy.
• A fall in U.S. Imports of Mexican steel, aluminum, and related articles will partially offset the potential direct impact on U.S. GDP.