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Trump imposes 5% tariff on Mexican imports that could escalate over time

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trump imposes tariff on Mexican imports

President Donald Trump imposes new tariffs on all imported Mexican goods in a bid to pressure the government in curbing immigration.

Trump imposes new tariffs on Mexican imports

Trump imposes 5% tariff on Mexican imports that could escalate over time

Trump said on May 30 that a 5% tariff would be imposed on Mexican imports effective June 10. He added that the tariff would add five percentage point every first of the month moving forward until levy reaches 25%.

The U.S president said that the 25% tariff stays until Mexico substantially curb illegal migration coming through its territory.

It is the latest effort by Trump administration to cut down the large-scale migration from Honduras, El Salvador, and Guatemala through the borders of the U.S. and Mexico.

According to Trump, companies relocating from Mexico to the U.S. would not be affected by the new tariffs.

In a public letter, Mexican President Andrés Manuel López Obrador responded by telling the U.S. president that “social problems are not solved with duties or coercive measures.” He alluded to the history of the U.S. as a nation of immigrants.

He wrote: “The Statue of Liberty is not an empty symbol.”

López Obrador said that Mexico’s foreign relations would be visiting Washington on May 31 to negotiate a solution.

Republicans opposed the new tariffs.

Trump imposes 5% tariff on Mexican imports that could escalate over time

Several Republicans expressed disagreement with the new tariffs.

Senate Financial Services Committee Chairman Chuck Grassley tagged the move as a ‘misuse’ of presidential tariff authority and contradicted congressional intent. He added that trade policy should be taken as a separate issue from border security

Grassley has been known as a prominent critic of the trade policies of Trump administration as he claims they hurt a lot of his Iowa constituent farmers.

The U.S. Chamber of Commerce likewise commented that the announcement is ‘exactly the wrong move.’

The Chamber’s Executive Vice President and Chief Policy Officer Neil Bradley said that American businesses and families would be the ones paying the tariffs that will do nothing to address the real problems.

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