Washington — US stock indices slumped again on Friday as the US China trade war appears to intensify and Trump now threatens to impose tariffs on…
Washington
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US stock indices slumped again on Friday as the US China trade war appears to intensify and Trump now threatens to impose tariffs on Mexico. The market performance in May has been miserable.
Tariffs on Mexico to start June 10
Trump announced a 5 percent tariff on all Mexican goods starting on June 10 and surging to 25 percent by October. The announcement is raising much concern as some major US companies have supply chains in Mexico and stand to lose billions if the tariffs go into effect.
Mexican officials warn of negative consequences
Trump has threatened to keep increasing the tariffs until all illegal immigration stops. Many doubt that Mexico can in practical terms ever achieve such a goal. Any hope that Trump could take the tariffs off any time soon because illegal immigration stopped is quite unlikely. Trump seems to suffer what might be called a tariff fetish a form of bullying a country to try and get his way.
