Trump's surprise tariff threat to Mexico threatens new NAFTA deal

May 31, 2019

President Donald Trump’s surprise announcement of an escalating series of new tariffs on all goods imported from Mexico is likely to upend hopes for early congressional action on his proposed North American trade deal and would likely trigger economic upheaval on both sides of the border, according to trade analysts and business executives.

Business leaders reacted with dismay to Trump’s statement Thursday that he would impose a new 5 per cent tariff on all goods from Mexico beginning June 10 to force the Mexican government to take more aggressive actions to prevent Central American migrants from crossing its territory en route to the United States.

If the administration determines that Mexican authorities have not done enough in response, the tariff automatically jumps to 10 per cent on July 1 and then continues rising in five-percentage-point increments at the start of each subsequent month until it reaches 25 per cent on Oct. 1, according to a White House statement...

This was excerpted from the 31 May 2019 edition of the Financial Post.

Topic(s)

Trade Agreements

International Trade and Border Management

Information source

Canadian News Channel

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