President Trump has announced that the U.S. will impose a 5% tariff on all Mexican imports.
The new tariff, which he announced in a tweet, will take effect on June 10th. “On June 10th, the United States will impose a 5% Tariff on all goods coming into our Country from Mexico, until such time as illegal migrants coming through Mexico, and into our Country, STOP. The Tariff will gradually increase until the Illegal Immigration problem is remedied, at which time the Tariffs will be removed. Details from the White House to follow,” Trump said in his tweet.
The White House reportedly says that the president is invoking the International Emergency Economic Powers Act and threatened an increase of up to 25% on tariffs by Oct. 1 if Mexico does not stop flow of migrants, per NBC News.
No response from the Mexican government has been given at this time.