Trump Vows Rapid Tariffs for Mexico: Reuters

Donald Trump counts on tariffs as a tool for convincing other nations to do his bidding. He vows to target Mexico unless it reduces the number of undocumented immigrants and asylum seekers crossing the southern border, imposing tariffs of 10 percent as of June 10 and rising to 25 percent in October. Mexico had shifted to the top US trade partner in goods after Trump imposed tariffs on China. “Trump’s move dramatically escalates his battle to control a wave of tens of thousands of asylum seekers, including many Central American families fleeing poverty and violence, that has swelled alongside his promises to make it harder to get U.S. refuge and his efforts to build a wall on the Mexican border,” reports Reuters. “The announcement rattled investors who feared that worsening trade friction could hurt the global economy.” Trade with Mexico and Canada, while imbalanced, has created many US jobs. Mexican President Andres Manuel Lopez Obrador responds that Mexico does its utmost to control migration without violating human rights. Foreign Minister Marcelo Ebrard urged the United States to address the root causes of immigration including poverty, changing climate, as well as military, police and gang violence. Business loathes the abrupt turns in policies and uncertainty, with little concern about the consequences. – YaleGlobal