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.
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 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