- Aug 21, 2003
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President Trump on Thursday said he would impose a 5 percent tariff on all goods entering from Mexico unless it 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.
Trump, in a series of Twitter posts, said the import penalties would go into effect June 10. He added they would increase in size until all illegal immigration across the border halts, a scenario that has never occurred in modern U.S. history.
He wrote that the tariffs would be applied to “all goods coming into our Country from Mexico, until such time as illegal migrants coming into our Country, STOP.”
Trump said in a statement later that the tariffs would go up to 10 percent on July 1 and then increase by an additional 5 percent on the first of each month for three months, “if the crisis persists.”
The economic consequences of Trump’s new plan could be swift and severe. U.S. companies will be required to pay the tariffs in the form of import penalties, and they often pass those costs along to 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/immi...0b4105f7ca0_story.html?utm_term=.325406db037d
This must be one of the dumbest fucking ideas I've seen and he's not short of them. Mexico has already promised to retaliate and they could easily halt their passage of his trade deal. Consumers are going to start feeling this immediately. Creating economic problems in Mexico isn't likely to REDUCE Mexican immigration, quite the opposite in fact.
Also the Chinese are going to squeeze his nuts big time now that he's opening another major trade war front.