BREAKING NEWS: Trump drops tariff threat after reaching border deal with Mexico
President Donald Trump has dropped plans to impose a 5 percent tariff on all Mexican goods beginning next week after administration officials reached a deal with Mexico to stem the flow of Central American migrants seeking to enter the United States.The move avoids a possible confrontation with Congress over the tariffs, which experts have warned could drastically damage the U.S. economy.
Trump is expected to be presented with a formal deal when he returns to the White House late this afternoon from a weeklong trip to Europe, administration officials said. He already has been on the phone from Air Force One discussing details of the agreement with officials in Washington. He also has been discussing the issue on the plane with White House budget director and acting chief of staff Mick Mulvaney.
The Trump administration has also been seeking to stem the flow of migrants by having Mexico declared a “safe third country.” Under such an agreement, Central American migrants would be required to seek asylum in Mexico if they pass through that country en route to the U.S. It is also unclear what a promise of additional farm purchases would entail. Mexico is already one of the top export markets for U.S. farm goods, although sales have been hampered over the past year by retaliatory duties that Mexico had imposed after Trump slapped a 25 percent duty on the country's steel imports and a 10 percent duty on aluminum.
Trump plans to impose a 5 percent tariff on approximately $350 billion worth of Mexican goods unless Mexico significantly increases its efforts to check the northward flow of Central Americans seeking asylum in the U.S.
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