02:41 GMT29 November 2020
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    Tariff Man’s Tiered Threats

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    On Thursday, US President Donald Trump tapped into his alter ego “Tariff Man” and promised a better economic tomorrow as he imposed a 5% tariff on all Mexican imports, effective June 10.

    Tariff Man’s Tiered Threats

    Trump's plan to slap Mexico with tariffs, which was spearheaded by senior policy adviser Stephen Miller, according to CNBC, hasn't gotten the best reception, especially considering Trump threatens to boost the forthcoming 5% tariff incrementally if the "illegal migration crisis" is not "alleviated through effective actions taken by Mexico," according to a White House statement.

    The tariff would balloon to 25% in October 2019 and remain unless the White House's standards are met by Mexico.

    On Friday, Trump claimed the tariffs will force the auto industry to return to the US, but politicians didn't agree. Texas Congressman Joaquin Castro warned "tariffs on all Mexican imports will have severe consequences for Texas consumers and businesses, and will only invite reciprocal tariffs by Mexico, compounding the economic harm."

    The "stable genius'" move to stop "drugs as well as illegals" is even being criticized by members of Trump's own administration, such as US Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer, says a CNBC report.

    Related:

    Trump Claims Time for Mexico to 'Finally' Fix Migration Issue Amid Tariff Threat
    Mexico Dispatching Delegation to US to Settle Trade Tariff Issue
    Mexico Pledges 'Energetic Response' to Trump's Planned Import Tariffs
    US to Impose 5% Tariff on All Goods Coming From Mexico Over Illegal Immigration
    Campaigners Announce They're Building Their Own Wall on US-Mexico Border (VIDEO)
    Tags:
    auto market, tariffs, White House, Joaquin Castro, Robert Lighthizer, Stephen Miller, Steve Mnuchin, Donald Trump, Mexico, US
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