Donald Trump's threat to impose tariffs on Mexican goods will “boomerang,” warns Arturo Sarukhan, Mexico’s former ambassador to the U.S.
a new policy of imposing tariffs on imported goods from Mexico. Tariffs are taxes paid by American companies and consumers.On June 10th, the United States will impose a 5% Tariff on all goods coming into our Country from Mexico, until such time as illegal migrants coming through Mexico, and into our Country, STOP. The Tariff will gradually increase until the Illegal Immigration problem is remedied,…at which time the Tariffs will be removed. Details from the White House to follow.
To gain insight into Mexico’s likely response to the tariff threat and other implications of Trump’s announcement, I interviewedWhat impact do you expect the action to have on U.S. consumers and companies?It will boomerang and become the proverbial self-inflicted wound. Integrated supply chains and joint production platforms in North America mean that out of every $1 dollar of Mexican exports to the United States, 40 cents are U.S. inputs.
If de-escalation is not possible, Mexico will hopefully work with its many allies and stakeholders in the U.S. to pile political pressure on the White House. If that fails, it should contemplate reinstating a carousel of countervailing duties on everything from U.S. agricultural exports to Bourbon and motorcycles in response to the tariffs, and let U.S. consumers and business bear the pain and the brunt of the president’s decisions.
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