Market Overview

Trump Allies Push Back Following Mexico Tariff Threats

Trump Allies Push Back Following Mexico Tariff Threats

President Donald Trump's latest tweets relating to the Mexico tariff threats are being met with anxiety and a number of well-known Trump allies are expressing discomfort.

Trump announced a 5-percent tariff on all goods coming from Mexico, demanding the country curb illegal immigration into the U.S.

  • “While Americans are greatly harmed by illegal immigration, these tariffs would only further punish our citizens—forcing them to pay more for basic goods and services every day – all because Washington has consistently failed to do its job.” - Heritage Foundation.
  • "Tariffs are taxes. Taxes suck." - Conservative U.S. political activist Grover Norquist.
  • "We share @realDonaldTrump’s frustration with our broken immigration system. But intertwining difficult trade, tariff, and immigration issues creates a Molotov cocktail of policy. Manufacturing workers should not be forced to suffer because of DC’s failure to act on immigration." - CEO of the National Association of Manufacturers Jay Timmons.
  • "Sen Grassley is calling Pres Trump's proposed tariffs on Mexico "a misuse of presidential tariff authority & counter to congressional intent."- says White House correspondent Yamiche Alcindor

The U.S. imported $346.5 billion worth of goods from Mexico throughout 2018, which represented 13.6 percent of total imports, according to CNBC.

Related Links:

Trump Says US Will Impose 5% Tariff On Mexico Imports Starting June 10

9 US-Traded Mexico-Based Stocks To Keep An Eye On

Photo credit: Emily Elconin.


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