President Trump announces tariffs targeting all Mexican products to entice the nation to reduce the influx of illegal immigration pouring through its borders, with the ultimate goal of reaching the United States.
President Trump made the announcement Thursday unexpectedly via twitter saying the 5% tariff will go into effect on June 10.
The president went on to say the tariff will continue to spike gradually until the “illegal immigration problem is remedied.”
According to a statement released by the White House, the tariff is expected to increase another 5% by July 1 if Mexico does not take action against illegal immigration.
On August 1, the tariff will increase to 15% and then 20% on September 1.
The statement went on to say the decision is in the best interest of the U.S. and its industries, and cartel activity, human trafficking, and the transfer of drugs must be stopped.
….at which time the Tariffs will be removed. Details from the White House to follow.
— Donald J. Trump (@realDonaldTrump) May 30, 2019
The president concluded the statement by saying protecting the American people is his first priority and he “will not stand by and allow our sovereignty to be eroded, our laws to be trampled, or our borders to be disrespected anymore.”
His tweet came just hours after he told reporters he would be making a major announcement regarding border security likely by Friday.
Mexican President Andrés Manuel López Obrador has since slammed the announcement saying, “Social problems are not solved with duties or coercive measures.”
The Mexican president continued by saying the foreign relations secretary would travel to Washington to discuss the decision and hopefully reach a solution.
The cost of chilling out with some guacamole and a margarita is about to go up for U.S. consumers https://t.co/1wdm2aDvaT
— Bloomberg (@business) May 31, 2019
The tariff announcement comes as the White House continues to push for the United States Mexico Canada Trade Agreement’s (USMCA) approval, a deal which would replace the former NAFTA trade deal.