General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums5% tariff on Mexican imports beginning June 10
By Damian Paletta, Nick Miroff and Josh Dawsey May 30 at 7:52 PM
President Trump on Thursday said he would impose a 5 percent tariff on all goods entering from Mexico next month unless that country stopped the flow of illegal immigration to the United States, a dramatic escalation of his border threats that could have sweeping implications for both economies ...
Effective June 10, the president intends to impose a 5 percent tariff on every good coming from Mexico, White House officials said. The tariffs would then increase by 5 percent on the first day of each month, starting on July 1.
Mexico imported $346.5 billion in goods to the United States last year, from vehicles to fruits and vegetables. And many manufactured goods cross the border several times before they are sold to U.S. consumers ...
This is huge because it really substantially hinders the operation of tightly woven supply chains across North America, said Eswar Prasad, a senior professor of trade policy at Cornell University ...
https://www.washingtonpost.com/immigration/trump-prepares-to-threaten-mexico-with-new-tariffs-in-attempt-to-force-migrant-crackdown/2019/05/30/0f05f01e-8314-11e9-bce7-40b4105f7ca0_story.html?utm_term=.807fab22eb3d
no_hypocrisy
(46,026 posts)to supplant their natural heritage varieties. Trade war on!
BTW, this would affect car and truck production and importation to the U.S. Manufacturers from the U.S. (ironically) and Germany have plants in Mexico and ship the vehicles here.
Johnny2X2X
(18,973 posts)The auto industry will be harmed by this a ton. They already have tight margins, adding 5% to all their parts that come to back and forth across the border is going to cost jobs and cost American consumers.
bearsfootball516
(6,373 posts)struggle4progress
(118,235 posts)BY JOHN BOWDEN - 05/30/19 08:24 PM EDT
The Dow Jones futures dropped more than 100 points on Thursday after President Trump announced plans to impose tariffs on Mexico until the flow of immigrants to the southern U.S. border is cut off.
The index saw losses of almost 200 points by 8:15 p.m., less than an hour after Trump tweeted to announce a 5 percent tariff on all imports from Mexico that would "gradually increase" until the flow of migrants stopped ...
https://thehill.com/policy/finance/446272-dow-plummets-after-trump-announces-new-mexico-tariffs
Wellstone ruled
(34,661 posts)hurt the American Consumer that much. And when all those Factories Magically reappear back in Ohio,well. What the hell are they smoking?
struggle4progress
(118,235 posts)MEXICO CITY, May 30 (Reuters) - Mexicos deputy foreign minister for North America, Jesus Seade, said on Thursday that it would be disastrous if U.S. President Donald Trump goes through with his threat to impose new tariffs on Mexico ...
https://www.reuters.com/article/mexico-usa-tariffs/mexico-says-would-be-disastrous-if-trump-imposes-new-tariffs-idUSS0N1ZS014
Retrograde
(10,130 posts)A lot of produce comes from Mexico - even in California groceries.
dalton99a
(81,404 posts)Impeach the asshole already
UniteFightBack
(8,231 posts)like our cheap prices. Especially the poor people for fucks sake...it's all we HAVE !!!
dalton99a
(81,404 posts)In the auto parts industry prices have already gone up, which means higher car repair bills for everyone
This should be a campaign issue
Brawndo
(535 posts)shanti
(21,675 posts)to 25% in September. I'm in CA....bye bye cheap produce.
democratisphere
(17,235 posts)by American consumers at the checkout. They better not raise the the price on my Mexican cherry tomatoes.
UniteFightBack
(8,231 posts)NoMoreRepugs
(9,371 posts)Wall Street powerhouses with these nonsensical tariffs.
Rstrstx
(1,399 posts)It would mean big economic troubles for them
ooky
(8,908 posts)agreement prevent him from doing it? Unless he unilaterally cancels the NAFTA agreement?
How is this idiot still president?
dweller
(23,613 posts)toast
✌🏼️
eleny
(46,166 posts)Looks like he's closing off the alternative source of products.
Trump hates Americans and American companies.