Despite pushback from U.S. business, Mexico and Capitol Hill, President Donald Trump doubled down Friday on his threat to slap a 5% tariff on Mexican imports unless America’s southern neighbor cracks down on Central American migrants trying to cross the U.S. border.
U.S. manufacturers said the tariff, set to take effect June 10, would have devastating consequences on them and American consumers. U.S. stocks tumbled on Wall Street in response to Trump’s planned action.
“Imposing tariffs on goods from Mexico is exactly the wrong move,” said Neil Bradley, executive vice president of the U.S. Chamber of Commerce, which is exploring legal action in response to the tariffs.
“These tariffs will be paid by American families and businesses without doing a thing to solve the very real problems at the border. Instead, Congress and the president need to work together to address the serious problems at the border.”
Mexican President Andrés Manuel López Obrador dispatched his foreign secretary to Washington to try to negotiate a solution. He said social problems are not solved with coercive measures, but also seemed convinced that Trump just needed to be informed about all the steps Mexico has taken to slow illegal migration