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Tariffs for you too! Trump threatens tariffs on Mexico over illegal immigration, US trade rep not a happy camper

May 31, 2019

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  • President Trump has threatened Mexico with escalating tariffs if the country does not stem the flow of migrants passing through Mexico and entering the US illegally
  • But his top trade rep, Robert Lighthizer, did not agree with the move at all
  • Lighthizer was afraid that the move will jeopardize negotiations on the USMCA, the successor to NAFTA
  • The tariffs are due to start in 10 days at the 5% level unless the US decides, at its sole discretion, that Mexico has made a concerted effort to stop the flow of migrants illegally entering the US
  • Tariffs grow by 5 percentage points in steps until reaching 25% in October
  • The tariffs would apply to $360 billion in goods that flow across the US southern border
  • President Trump is reported to have grown frustrated after hearing his team tell him for months to not take action against Mexico’s new president as he formed a new government
  • President Trump grew impatient and decided to act, using laws that critics saw were not meant to be used this way
  • Mexico’s president has said he is willing to talk, while calling Trump’s America first a fallacy
  • Global markets sold off on the news with carmakers hit hard 
     

 

 

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