5% tariff on Mexican imports beginning June 10

[struggle4progress]

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]

1. And Mexico should refuse exports of American GM corn that's being forced on its farmers

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]

2. This hurts American companies

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]

3. I'm sure the Dow will love this

[struggle4progress]

5. Dow futures plummet

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]

4. But Wilbur says it will not

hurt the American Consumer that much. And when all those Factories Magically reappear back in Ohio,well. What the hell are they smoking?

[struggle4progress]

6. Mexico says new tariffs would be disastrous

MEXICO CITY, May 30 (Reuters) - Mexico’s 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]

7. Including food?

A lot of produce comes from Mexico - even in California groceries.

[dalton99a]

8. Once prices have gone up they stay up

Impeach the asshole already

[UniteFightBack]

12. Just WATCH Americans start paying attention and this is something that will UNIFY everybody. We

like our cheap prices. Especially the poor people for fucks sake...it's all we HAVE !!!

[dalton99a]

13. Walmart is raising prices across the board

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]

23. If kids dying in cages doesn't erode support for tRump then maybe this will.

[shanti]

9. And it's going up

to 25% in September. I'm in CA....bye bye cheap produce.

[democratisphere]

10. Just remind your friendly rethuglicon idiots that the tariffs are being paid for

by American consumers at the checkout. They better not raise the the price on my Mexican cherry tomatoes.

[UniteFightBack]

11. Here is is FUCKING AMERICANS yet again. THIS MAN WILL PAY. nt

[NoMoreRepugs]

14. King tRumpy is pissing off a whole lot of mega rich

Wall Street powerhouses with these nonsensical tariffs.

[Rstrstx]

15. Can't think of a better way to put Texas and Arizona in play

It would mean big economic troubles for them

[ooky]

16. This idea is nonsense. Besides for it being a horrible idea, wouldn't the NAFTA

agreement prevent him from doing it? Unless he unilaterally cancels the NAFTA agreement?

How is this idiot still president?

[dweller]

17. buh bye avocado

toast

✌🏼️

[eleny]

18. I heard that Mexico was benefiting from Trump's China tarriffs

Looks like he's closing off the alternative source of products.

Trump hates Americans and American companies.

[Gothmog]

19. This will kill GDP for the rest of 2019

[Opel_Justwax]

20. We shouldn't allow the president to control tariffs. It should require a vote by congress to change

[sinkingfeeling]

21. He's bound and determined to crash the economy.

[struggle4progress]

22. "Putin says: Hop on one leg and squawk like a chicken!"