TRUMP SAYS TARIFFS ON MEXICAN IMPORTS GO INTO EFFECT NEXT WEEK; MEXICO THREATENS RETALIATION | WHAT REALLY HAPPENED


TRUMP SAYS TARIFFS ON MEXICAN IMPORTS GO INTO EFFECT NEXT WEEK; MEXICO THREATENS RETALIATION

Mexico is exploring ways to retaliate against the United States for taking the trade war south of the border. President Donald Trump isn’t content with the punishment levied on the American consumer just yet, so he announced the 5% tariffs on Mexico will take effect on June 10.

Not only would the tariffs increase the prices of vegetables in the U.S., but some reports say up to 400,000 jobs are at stake as well. Wasn’t Trump’s goal to bring work and prosperity to the U.S.? I guess that means through increased costs of goods and lost jobs. These trade wars have never made economic sense and the U.S. is setting itself up for failure. The 5% tariffs on Mexican goods will especially hit Texas jobs hard, according to a report by CNBC.

And it will get worse as it goes along. Trump has also said he’ll be rising the tariffs by another 5 percent per month until October unless Mexico stops all illegal migration into the United States. That will be a total of 25% tariff on Mexican imports. Congressional Republicans have begun discussing whether they may have to vote to block President Trump’s planned new tariffs on Mexico to prevent an imminent economic meltdown, according to The Washington Post.

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