US to impose five percent tariff on all Mexican goods as of June 10

Friday, 31 May 2019 11:49:16 (GMT+3)   |   Istanbul
       

According to a White House statement, US President Donald Trump has said that, starting on June 10, the United States will impose a five percent tariff on all goods imported from Mexico. He added that this tariff will be increased up to 25 percent in the coming period if Mexico does not take action to dramatically reduce or eliminate the number of illegal aliens crossing its territory into the US.

The White House statement indicated that, if the illegal migration crisis persists, the tariffs will be raised to 10 percent on July 1, to 15 percent on August 1, to 20 percent on September 1, and to 25 percent on October 1. The tariffs will then permanently remain at the 25 percent level unless and until Mexico substantially stops the illegal inflow of aliens coming through its territory. 

“If Mexico fails to act, tariffs will remain at the high level, and companies located in Mexico may start moving back to the United States to make their products and goods. Companies that relocate to the United States will not pay the tariffs or be affected in any way”, President Trump said.

Recently, the US lifted Section 232 tariffs on Mexico and Canada and the ratification process of the new trade deal between three countries was set in motion.


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