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:
https://twitter.com/VP/status/1136409922776813568
To read President Trump’s tweets:
https://twitter.com/realDonaldTrump/status/1136402984923852801
Additional Source:
Flegenheimer International will continue to monitor and keep you all posted.