President Trump is doubling down on his threat to impose new trade tariffs on Mexico. On Sunday, he tweeted "the problem is that Mexico is an abuser of the United States, taking but never giving." Last week, the president announced an initial five percent tariff on all imports from Mexico, if the country does not stop illegal immigration to the U.S. The first round of tariffs is due to take effect June 10. I joined CBS This Morning to discuss how this could affect American consumers and businesses.
On Thursday night, President Trump reignited the trade conflict with Mexico. You may be thinking, “Wait, didn’t he repeal the steel and aluminum tariffs two weeks ago, and didn’t the White House just submit to Congress the revised NAFTA deal, now known as the United States-Mexico-Canada Agreement, or USMCA?
A surprise move by the president to impose tariffs on Mexico could impact billions of dollars of goods. The auto industry would take the biggest hit. Weijia Jiang reports and I make an appearance.