Trump to impose tariffs on Mexico
WASHINGTON - President Donald Trump said Thursday that he will impose escalating tariffs on all goods imported from Mexico until authorities in Mexico stop migrants from crossing its territory and entering the U.S. illegally, a move that would cause economic upheaval in California and beyond.
The surprise announcement immediately threw into doubt the fate of one of Trump's top economic priorities: passage of the revised North American Free Trade Agreement.
Trump said his administration will impose a 5% tariff on Mexican imports on June 10, but that will be doubled to 10% on July 1 unless the migration crisis "is alleviated through effective actions taken by Mexico, to be determined in our sole discretion and judgment."
The penalties will increase by 5 percentage points per month until October, he said, after which tariffs "will permanently remain at the 25%
You’re reading a preview, subscribe to read more.
Start your free 30 days