Five Percent Tariffs on Mexican Goods Starting June 10th
Monday, June 03, 2019
President Trump announced that starting on June 10, goods of Mexican origin will be subject to a 5 percent tariff. A statement released by the White House indicated that the tariffs would increase to 10 percent on July 1, 15 percent on August 1, 20 percent on September 1, and 25 percent on October 1, where they will remain until Mexico takes unspecified steps to curb illegal immigration to the United States.
Pisani & Roll LLP will provide additional updates as further details are released, but since the stated rationale of the tariffs is said to be to incentivize Mexico to further curb illegal immigration, it would appear that all goods, NAFTA eligible or not, that are of Mexican origin will be subject to the new tariffs.
Category: Economic News, International Trade