President Trump Announces Tariffs on Mexico
On Thursday May 30, President Trump announced he would impose a tariff, starting at 5% going up to 25% incrementally, on all goods from Mexico. This punitive measure is taken as a step to stop illegal immigration to the U.S.
On Twitter, Trump wrote: “On June 10th, the United States will impose a 5% tariff on all goods coming into our Country from Mexico, until such time as illegal migrants coming through Mexico, and into our Country, STOP.”
Later, the White House announced the tariff will increase to 10% on July 1; 15% on August 1; 20% on September 1 and 25% on October 1 and according to Trump’s tweet will remain “until the Illegal Immigration problem is remedied.”
We will continue to monitor the situation and advise of any new developments.