Thursday, January 26, 2017

The Great Wall of Trump: President proposes 20% tariff on Mexican goods

If he builds it they won't come.

There's a new sheriff in Washington--and Mexico hasn't seen anything like him since Yul Brynner led the Magnificent Seven south of the border.

From the Detroit News:
The White House said Thursday that President Donald Trump would consider paying for a border wall with Mexico – estimated to cost up to $14 billion – by imposing a 20 percent tax on imports from Mexico.

If Trump proposed such a plan and it were approved by Congress, it would deal a blow to Detroit’s three automakers, which have factories in Mexico to export vehicles not only to foreign countries but also to the United States.

The plan would require withdrawing from the North American Free Trade Agreement, under which most goods including vehicles traded between the two countries face no tariff.

The announcement came on the same day that Mexican President Enrique Peña Nieto canceled a meeting with Trump that had been scheduled for next week, over tensions stemming from Trump's plans to build the border wall.
About an hour ago the president's press secretary, Sean Spicer, walked back the controversy a bit by saying the tariff is one item Trump is considering.

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