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Market not going to like this.


Trump announces tariffs on Mexico starting June 10 if it doesn't slow flow of migrants
CNN Digital Expansion 2018 Abby Phillip
By Abby Phillip, CNN
Updated 9:29 PM ET, Thu May 30, 2019
Trump threatens to impose new tariffs on Mexico
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Trump said in a White House statement that the first round of tariffs would begin on June 10 at 5% "on all goods imported from Mexico."
The statement said Trump would carry out his threat under authority from the International Emergency Economic Powers Act and that he would lift tariffs only "if the illegal migration crisis is alleviated through effective actions taken by Mexico."
The statement warned further that if Mexico did not act as Trump demanded, tariffs would go up to 10% by July, 15% by August, 20% by September and reach a permanent level of 25% by October.
Tariffs are paid by importers, not by exporting countries. If the tariffs go into effect those companies will have to decide whether to eat the cost or pass them on to American consumers.
According to the Office of the US Trade Representative, US imports of goods from Mexico totaled $346.5 billion in 2018. That includes cars and machinery as well as agricultural products.
The President preceded the statement with a pair of tweets promising that the rising tariffs would stay in place until immigration flows are cut off.
"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," Trump tweeted.
Acting White House chief of staff Mick Mulvaney told reporters Thursday that the administration "did not set a specific percentage or specific number" for its threshold to remove tariffs.
The White House did not reach out to congressional Democrats about the new tariffs, he added.
When pressed on the required threshold to remove the tariffs, Mulvaney said that the administration "did not set a specific percentage or specific number."
"We are going to judge success here by the number of people crossing the border and that number needs to start coming down immediately in a significant and substantial number," he went on. "So we're going to take this and look at it on a day to day and week to week basis."
Federal law allows the use of tariffs by the president to deal with "any unusual and extraordinary threat" which deals with the "national security, foreign policy or economy of the United States," but the new measures on Mexico will likely face swift legal challenges.
Mulvaney added that White House lawyers were able to walk through several Republican senators' concerns "to get them more comfortable" with the decision, but declined to name specific lawmakers.
The White House did not reach out to congressional Democrats about the new tariffs, he added.
The announcement and tweets came on Thursday evening, which earlier Trump had teased to reporters as a "big league" announcement on immigration. The news was first reported by The Washington Post.
"We are going to do something very dramatic on the border because people are coming into our country," the President told reporters as he left the White House on Thursday morning.
Trump has threatened Mexico with tariffs in the past as he has grown frustrated with the flow of Central American migrants to the southern US border. He last made this threat in April amid another threat to close the border with Mexico. After walking back that threat, he suggested that tariffs would be a more effective means to pressure Mexico to do more.
Kevin McAleenan, the acting Secretary of Homeland Security, told reporters Thursday that the number of migrants crossing the border has increased consistently, thanks to a surge from Central America.
"The month of May is on pace to be the highest month in crossings in over 12 years and will significantly surpass the record 109,000 in April," he said.
"Before we close the border we'll put the tariffs on the cars," Trump told reporters. "I don't think we'll ever have to close the border, because the penalty of tariffs on cars coming into the United States from Mexico at 25% will be massive."
There is growing frustration with Mexico in the administration. US officials are not seeing a corresponding decrease in apprehensions at the US border with Mexico as a result of the country's enforcement actions at its own southern border.
If Trump makes good on a tariff threat against Mexico, it is not clear how that would affect the United States-Mexico-Canada trade deal, which the administration is pushing Congress to ratify.
The Trump administration also recently released the principles of an immigration bill that would tighten asylum criteria and shift to a merit-based immigration system. But that plan has little chance on Capitol Hill and has been dismissed by even Republican lawmakers as more of a statement of principles than legislation intended to become law.
Trump continues to be frustrated by the difficulty of changing immigration law through Congress and with the asylum process, which he has complained is rife with fraud.

so wait, we're the ones who will be punished for illegal immigration?

im guessing trump still doesn't realize that we're the ones who pays the cost.

More ‘taxes’ on the rest of us. Look for food costs to rise.

Americans need to be on a diet anyway.

TRUMP!!!

While true it’ll be fruits and veggies that raise in cost. Not fast food and Monster energy drinks. So I won’t expect a change to America’s obesity problem.

I don't know. Could be.

Could also be because farmers still can't get in the field to plant - at least around here. In past years soy beans and corn has been planted, completely, by now.

This year? I've seen exactly 1 tractor out, and he wasn't planting. I know, just a small section of my state, which is a small section of overall agriculture. But it's real. It's not tariff's, or trade war that is really worrying the farmers - it's not being able to plant crops.

This is what happens when the Country faces a crisis and Congress won't work.

Prez gotta go with plan B.

Just hold on, global warming is a hoax and it will snow soon.

plan B... you just can't make this crap up. Plan B is a punch to his own country's nose because he is having yet another tantrum. He is already killing soybean farmers, now he's going to hit a bunch of other americans. He doesn't give a damn about anybody not named Trump, a billionaire, or a tyrannical leader of a country. He is incapable of caring about the working man because he's elitist and self entitled.

So, you think man made global warming is responsible? Or man made climate change, or whatever the other terms are?

Or is it possible that nature just, you know, is nature.

Or is it global cooling, or man made global cooling? I get so confused on this, as it seems to change every other year or so.

So, you just said Trump is a billionaire. Nice of you to finally admit that.

No I didn't. I said he doesn't care about you unless you are one of those things. Reading is fundamental.

By the time I dumb it down and explain it to you in terms you can understand, every living thing will be dust.

Yup, it is. My bad. So, he only cares about billionaires, and not millionaires. Got it.

...reach... sad.

At this point, I know you're just taking a shot at me. I'll let it go.

NPR had interviews with a couple farmer about 5 or 6 weeks ago. One was from Ohio. They said everything they built up on trade of their crops-trump completely screwed them. So bad the one farmer said he would be better off this year if he simply doesn’t plant. And the one got bailout money; didn’t touch his loss-only enough (about 20k) to get some work done on his tractor

I would never doubt that.

My best guess though, is that guy from Ohio was in trouble before any trade war/tarriff thing.

Hey, my bro in law's father ran into financial problems, big time about 8 years ago. Had to sell land, etc.

He's fine now, back on his feet, bought the land back, put up a new barn. Well, steel building.

That was all before trump.

Now, I'm curious - one guy said he'd be better off - a farmer - if he didn't plant crops? At all? I suppose it's possible for a small time farmer that has other full time employment (and yes, I know many farmers that do that exact same thing)

yeah ok bro ..then why do they need the billions of dollars of our tax dollars in handouts trump is giving them because of the trade war he started? Frigging tractors aren’t in the fields planting because our tax dollars are paying them not to plant. But go ahead a spin it on the weather and such. Lol

It’s a well known fact that China and Mexico will starve their own people. Seems like trump is willing to do the same.

It is already costing us Billions to care for the illegals at the expense of our own citizens while Congress sits on its hands.
Mexico and their neighbors blow us off by allowing their countries to empty out into America.

Now it will cost everyone with tariffs and it will get the attention of all involved.

Our President continues to lead while the rest of the world does nothing.

Yep ....the republican controlled congress was ordered to sit there and just watch trump’s lil hands at the helm. Enjoy.

By the way, doesn’t this put a huge dent into that USMCA or whatever the hell hes calling it?

Trade doesn’t seem to be trumps strong suit whatsoever. Well, nothing does, besides lying.

anyone that knows history, think Herbert Hoover and see how this is going to turn out

Dude please don’t say that. That would literally be worse case scenario.

3 years, and so far trump has either broken agreements, or simply not honor them.

And I’ve said the very thing before: how can you trust the US to honor agreements under trump? You can’t, so there’s no point and pushing serious negotiations when the president changes positions like he changes underwear.

Surprise Mexican tariffs hurt China agreement chances: ‘How can you trust Trump to honor a deal?’

https://www.cnbc.com/2019/05/31/surprise-mexican-tariffs-hurt-china-agreement-chances.html

President Donald Trump’s surprise vow to slap new tariffs on Mexican goods has an unintended consequence: It further undermines the chance of a trade resolution with China.

The U.S. is set to impose a 5% tariff on all Mexican imports from June 10, Trump first announced in a Twitter post Thursday night. The move came as a shock as the White House just took a formal step to kickstart approval of the United States Mexico Canada Agreement.


Trump’s 180-degree turn on the U.S.′ largest trading partner is sending a ominous message to the international community that he can’t be trusted, Wall Street policy analysts said, adding that China, already skeptical of Trump’s reliability, is now less likely to sign a trade deal with him.

“We view this action as further deteriorating the U.S.-China trade fight. Chinese officials have stated their concern about the reliability of President Trump as a trading partner. These tariffs were announced the same day as significant advancement of the USMCA. If China does not believe a deal will stick, why negotiate?” said Ed Mills, public policy analyst at Raymond James, in a note.

Chinese leader Xi Jinping and Trump are set to meet at the G20 summit in Japan next month, but the Mexican tariffs put into further doubt that a “substantive” meeting is possible, Mills added.

“Trump’s readiness to hit a trading partner with new tariff threats soon after striking a trade deal will make China still more cautious about signing up to a deal that Trump then reneges upon, humiliating its leadership,” Krishna Guha. policy strategy analyst at Evercore, said in a note. “Beijing will remain open to talking, but this cannot help prospects for an early breakthrough at G20.”

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U.S. stock futures plunged on the new tariff threat and Chinese stocks were hit overnight as well.


“How can you trust Trump to honor a deal?” Chris Krueger, Washington strategist at Cowen said. “Mexico submitted USMCA this week for ratification...Trump’s signature trade achievement was moving downfield...and he just threatened Mexico -- the U.S.’s largest trading partner -- with unilateral tariffs on ALL Mexican goods exports to the U.S.”

The U.S. and China have been jockeying for tit-for-tat threats after the trade negotiations fell through earlier this month. China reportedly stopped purchases of U.S. soybeans and threatened to cut off rare earth supply to the U.S., while the U.S. blacklisted Chinese telecom giant Huawei, halting its ability to purchase American chips.

China said Friday it will establish a list of unreliable entities of foreign companies and people that “seriously damage” the interests of domestic firms.

The path the GOP continues to take.

Herbert Hoover?

You guys crack me up.

Its identical, Tariffs don't work..Protectionist policies dont work. Hoover thought he could stimulate the economy by imposing tariffs...result? 25% unemployment and the great depression. So watch what happens if he increases tariffs on Mexico where we import 275+ billion in products. Only ones that truly feel the impact of tariffs are the people actually consuming the goods.. This dude is off his rocker..I can't believe I voted for him. Dems better get their crap together or this idiot is going to win another term. By getting crap together, that means not letting Creepy pedo uncle joe get the nom.

“This dude is off his rocker..I can't believe I voted for him.“

There were a bunch of us warning you and others of this in 2016. You didn’t listen. Chickens have come home to roost.
Glad you see the light now. Even if it’s too late to stop the destruction your decision has caused. Let’s not repeat this in 2020.

well there really wasn't another option.. No way i was voting for hillary.. If it had been anyone else

You could’ve voted for harambe but you didn’t.

well I would have had he been able to take office lol

Hoover was trying to stimulate the economy thru tariffs, yes.
That failed.

Trump has already stimulated this economy, the Markets, employment, and we are strong.

BUT...

Trump has a border crisis and that is a National Security issue as well as an economic issue.
Trump has a National Security problem with China stealing our technology and growing their military to rival us.
China dumps its products on the markets because they subsidize their industry and steal market share, killing all competition.

Trump is using tariffs to get Mexico, its neighbors, and China to knock it off.

This Congress, won't work for fear of giving Trump a victory.
The past Republican Congress lacked the will.
Obama and Bush struggled with the Border problem that is now a crisis.

Trump will do whatever he has to do in order to fix these and other problems that face America today. He is not off his rocker, he is the only man in Washington who is actually working for this Nation.

Pass. That. Pipe. Man I thought Oregon homegrown was good.

Mexico's Foreign Minister just dropped everything on his schedule and is traveling to Washington to speak with the Trump administration about all this.

Results already?
Mexico is talking.

Sure there was.
Republican voters had 16 other options and an 18 month-long process to select one of them. This is what they produced.

They own this mutation in its entirety.



Time for some chemo and radiation therapy come 11/2020.

and ditto for dems and hillary

How Trump's trade tariff tweet put Mexico's back to the wall
Noe Torres, Anthony Esposito
4 MIN READ

MEXICO CITY (Reuters) - It should have been a good day for Mexico’s veteran point man for trade with the rest of North America.

But Jesus Seade had just wrapped up an optimistic speech to a friendly Mexican Senate, aimed at winning ratification for a regional free trade deal, when he was sideswiped.

At 6:30 p.m. (2330 GMT), U.S. President Donald Trump tweeted that Washington would impose a 5% tariff, rapidly ratcheting higher, on all goods coming from Mexico unless the flow of illegal immigrants across the southern U.S. border was stanched.

The message reached Seade, Mexico’s deputy foreign minister for North America, just as he arrived from the Senate at the Foreign Ministry to tell reporters about the progress on the United States-Mexico-Canada-Agreement (USMCA) he helped negotiate.


At first, he tried to play down the development, saying “Trump is very active in the use of the tweet,” of which only some are “put into action.”

Then Seade’s demeanor became more serious.

“My colleagues just told me that the tweet mentioned by the last journalist, bad news. It’s no longer just a tweet, it’s now a White House statement,” he said.

Clearly taken aback by the severity and abruptness of the measures, which would take tariffs to 25% by October, Seade swung from advising calm and dialogue to saying a strategy of non-retaliation from President Andres Manuel Lopez Obrador would be unacceptable.

REUTERS/Jonathan Ernst
Mexico sends about 80 percent of its exports - mostly manufactured goods like cars and televisions - to the United States.

Seade said the most logical response to would be an “eye for an eye” but then warned reciprocal measures would lead to a trade war “and that is the last thing that we want.”

A gregarious and immensely experienced negotiator, Seade has invested a lot of time in keeping bilateral relations on an even keel.

He helped create the predecessor to the World Trade Association and used an old connection with U.S. Trade Representative Robert Lighthizer to seal the new USMCA over meals at the Metropolitan Club in Washington.

But even before the tariff threat, there were still hurdles to cross.


Democrats in the U.S. House of Representatives, perhaps wary of handing Trump a victory and worried the deal is not still not tough enough on labor law enforcement, have indicated they may not approve it.

But U.S. Vice President Mike Pence said on Thursday he was pushing to get the U.S. Congress to ratify it this summer, after both Canada and Mexico signaled they were ready.

Hours later, nearly 20 months of talks, concessions, and wrangling to seal the replacement for the North American Free Trade Agreement (NAFTA) seemed to be slipping away.

“This is difficult ... even more so between two nations trying to seal a wonderful trade deal. The best trade deal in history according to Trump himself and suddenly he throws this in the way,” Seade said.

On Friday a delegation led by Foreign Minister Marcelo Ebrard, which an aide said might include Seade, will travel to Washington to try to defuse the situation before economic disaster strikes.

Mexico's Deputy Foreign Minister for North America, Jesus Sead reacts during the delivery of the United States-Mexico-Canada Agreement (USMCA) deal, at the Senate building in Mexico City, Mexico May 30, 2019. REUTERS/Henry Romero
Mexico imports a great deal of U.S. products, giving it scope for a large-scale retaliation.

“If we consider that Mexico exports over $350 billion to the United States, retaliation to the measures by Mexico would be off the charts,” said Kenneth Smith, Mexico’s former chief NAFTA negotiator.

Mexico’s reaction is not yet clear.

In a letter to Trump, Lopez Obrador said he was not looking for confrontation but also jabbed back, calling the U.S. leader’s signature phrase America First “a fallacy.”

He said he wasn't. The farmer said that they worked with the Chinese and were selling soybeans and other crops and "making pretty good money" and then the tariffs and retaliation. When NPR interviewed him he said that just in the last few days soybeans have fallen-I guess i lost about 70k and that is if I could sell them. If there is nobody to buy his soybean crop, they have to rent storage space until somebody buys the crop. And the storage spaces went up in rent and are still pretty much full of product they can't sell.

The only other thing i thought of is-switch to another crop-plant corn, plant pumpkins and melons and sell locally. i love going to farm markets and local farmers and buying locally. I have 5 or 6 farmers that I buy from and I might check out 3 or 4 during a weekend. Also have pick your own berries and apples/peaches.

Might be enough to keep their head above water.