Trade: Trump To Inflict 5% Tariff on Mexican Imports Starting June 10
May 31, 2019 | Friday
The United States to impose a 5 percent tariff on all Mexican imports starting on June 10. In addition, the duties at about 25 percent will include in the coming months. That of which, according to the White House will continue if Mexico doesn't take action reducing or eliminating the "number of illegal aliens" coming in the United States.
The announcement came even when U.S. Trade Representative Robert Lighthizer sent a letter to the congressional leaders on Thursday. The letter aims to initiate the process of approval on the updates within the North American Free Trade Agreement.
U.S. President Donald Trump initially announce the Mexican tariff via Twitter.
According to the Office of the U.S. Trade Representative (USTR), during 2018, Mexico was the second-largest importer of goods of the United States. In addition, USTR reports the U.S. has a total of $346.5 billion worth of imported goods coming from Mexico during 2018. That year, Mexico accounts for 13.6 percent overall imports in the United States.
Meanwhile, according to the White House, if an illegal migration case eased with effective procedures by Mexico, it will be in its "sole discretion and judgment" to remove the tariffs. On the contrary, if not acted upon, the tariffs are to increase by 10 percent on July 1 of 2019.
The White House also said the tariffs are to increase month by month; 15 percent on August 1, 20 percent on September 1, and 25 percent on October 1. Moreover, the White House said, “Tariffs will permanently remain at the 25 percent level unless and until Mexico substantially stops the illegal inflow of aliens coming through its territory."
According to USTR, when it comes to agricultural products, Mexico is the largest foreign supplier of the United States holds a total of $26 billion in 2018. Among those product includes fresh fruit, fresh vegetables, beer, wine, and processed foods.
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