U.S. Imposes New 5% Tariff on All Goods Coming from Mexico, cites Illegal Immigration
On Thursday night, President Donald Trump announced a new 5% tariff on all Mexican goods starting next month, citing illegal immigration as the key factor. “The United States will impose a 5% Tariff on all goods coming [in through Mexico] until such time as illegal migrants coming through Mexico, and into our Country, STOP,” read, in part, the President’s tweet.
The proposed tariff increase is scheduled to go into effect on June 10 and will effect $346.5 billion worth of products imported from Mexico, including cars, machinery, and agricultural products. The imposed tariff will start at 5%, and then gradually increase by an additional 5% each month, with an ultimate cap at 25%, resulting in the following proposed schedule:
|June 10, 2019||5%|
|July 1, 2019||10%|
|August 1, 2019||15%|
|September 1, 2019||20%|
|October 1, 2019||25%|
Trans-Border will continue to monitor the situation. If you have any questions, please reach out to Bill Carey, Import Compliance Manager, at firstname.lastname@example.org or (800) 493-9444.