UPDATE: Imposition of Tariffs on Mexico Imports
Yesterday, June 5, 2019, Vice President Mike Pence welcomed the Mexican delegation to the White House to see if they can ward off a potential economic crisis. The meeting ended without a deal as Pence tweeted “Mexico must do more” to address the issues on undocumented immigrants.
Talks with Mexico will continue today with the understanding that, if no agreement is reached, Tariffs at the 5% level will begin on Monday, with monthly increases as per schedule:
10% on July 1;
15% on August 1;
20% on September 1;
25% on October 1.
Rates will remain at 25% thereafter until Mexico “substantially stops the illegal inflow of aliens coming in through its territory.”
To read Vice President Mike Pence’s tweets:
To read President Trump’s tweets:
Flegenheimer International will continue to monitor and keep you all posted.