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US President Trump announced a 5 % tariff on Mexico saying that if Mexico does not do more to halt illegal immigration into the US the 5% tariff will rise to 25% in steps by October 2019. The Mexican Peso Collapsed on the news.

Mexico Peso on Tariffs

Mexico Responds

  • Mexican Deputy Foreign Minister Seade If tariffs are imposed we would respond "strongly"
  • We will not remain with our "arms folded" before tariff deadline to see if threat is serious
  • Trump tweets a lot, only some are put into action
  • Move from Trump was unexpected
  • This is 'very extreme' says the normal route would be to 'mirror' the tariffs, but that would lead to a tradewar
  • Says if tariffs are put in place would be negative for economy

From The Traders Community News Desk

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