Despite pushback from US business, Mexico and Capitol Hill, President Donald Trump is doubling down on his threat to slap a 5 per cent tariff on Mexican imports unless America's southern neighbor cracks down on Central American migrants trying to cross the US border.
US manufacturers said the tariff, set to take effect June 10, would have devastating consequences on them and American consumers. U.S. stocks tumbled on Wall Street in response to Trump's planned action.
"Imposing tariffs on goods from Mexico is exactly the wrong move," said Neil Bradley, executive vice president of the U.S. Chamber of Commerce, which is exploring legal action in response to the tariffs.
"These tariffs will be paid by American families and businesses without doing a thing to solve the very real problems at the border. Instead, Congress and the president need to work together to address the serious problems at the border."
"We maintain an ongoing dialogue and close cooperation with Mexico on a wide range of issues, including border security efforts," she said. "The United States and Mexico recognize that managing our shared border is a challenge common to both countries."
"We have taken our concerns to the highest levels of the administration and strongly urge them to consider carefully the impact of this action on working families across this country."
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