Following an earlier leaked story from the Wall Street Journal, President Trump has confirmed that he will impose tariffs on Mexico until the illegal immigration problems at the southern US border are fixed.
Amid negotations and escalations in the process of moving USMCA through Congress, Trump has decided to go after one on America’s closest trade partners: “On June 10th, the United States will impose a 5% Tariff on all goods coming into our Country from Mexico, until such time as illegal migrants coming through Mexico, and into our Country, STOP. The Tariff will gradually increase until the Illegal Immigration problem is remedied, at which time the Tariffs will be removed. Details from the White House to follow.”
On June 10th, the United States will impose a 5% Tariff on all goods coming into our Country from Mexico, until such time as illegal migrants coming through Mexico, and into our Country, STOP. The Tariff will gradually increase until the Illegal Immigration problem is remedied,..
— Donald J. Trump (@realDonaldTrump) May 30, 2019
….at which time the Tariffs will be removed. Details from the White House to follow.
— Donald J. Trump (@realDonaldTrump) May 30, 2019
The reaction in markets was swift. Futures dropped…
And the peso plunged…
So it appears ‘Tariff Man’ is true to his word – imposing arbitrary tariffs on anyone and everyone until he gets what he wants to Make America Great Again.
via ZeroHedge News http://bit.ly/2QIM0uJ Tyler Durden