Trump announced the tariffs on imports of Mexican goods last week, warning the punitive measures — meant to force Mexico City to take unspecified actions on illegal immigration — would begin to take effect June 10, and would raise 5% at the start of each successive month until they hit 25% in October “if the crisis persists.”
“THERE IS A GOOD CHANCE”
“If we are able to make the deal with Mexico, & there is a good chance that we will, they will begin purchasing Farm & Agricultural products at very high levels, starting immediately,” Trump said on Twitter while traveling back to Washington aboard Air Force One following a week-long visit to Europe.
Negotiations this week between Mexican and US officials intended to stave off the tariffs have so far been unable to bridge differences between the parties. Should they go into effect they would have far-ranging effects on the economies of both countries, which share bilateral trade estimated by the US Trade Representative to total $671 billion annually.