Trump vows rapid increase in tariffs on Mexico unless illegal immigration ends [Toronto Globe and Mail (Ontario, Canada)]
Toyota Motor Corporation (TM)
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Source: Toronto Globe and Mail
Trump vows rapid increase in tariffs on Mexico unless illegal immigration ends U.S. President Donald Trump, incensed by a surge of illegal immigrants across the southern border, vowed on Thursday to impose a tariff on all goods coming from Mexico starting at 5% and ratcheting higher until the flow of people ceases. Trump’s move dramatically ramped up his battle to control a tide of immigrants that has increased despite his efforts to build a border wall and halt the thousands of people crossing from Central America through Mexico to the U.S. border. The president’s decision, abruptly announced in a tweet and subsequent statement, was a direct challenge to the Mexican President Andres Manuel Lopez Obrador and appeared to take the Mexican government by surprise. It raised the risk of deteriorating economic relations between two neighbours heavily dependent on the cross-border flow of goods. It also opened up a new front on trade as the Trump administration struggles to conclude a trade
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