President Trump has stated that he will impose a 5% tariff on all goods from Mexico on June 10 if Mexico does not take action to slow the volume of immigrants at the US border. The Perryman Group, an economic analysis firm based in Texas, analyzed the economic implications of such a tariff and found that it would likely cost hundreds of thousands of US jobs if enacted and maintained.
There is mostly bad news in a new government report out on tariffs, and Dr. Perryman says Texas has paid a very steep price.
China wasted no time in answering President Trump's threat to impose additional tariffs on $300 billion in Chinese goods September 1.
The White House is prepared to impose additional tariffs on China if President Trump and Chinese President Xi cannot resolve their trade dispute in their meeting in Japan.
Dr. Ray Perryman says the second round of payments to farmers hurt by our trade policy with China, like the first round, doesn't make a lot of sense.
The US trade deficit was about a half a trillion dollars last year, and Dr. Perryman says that a lot of politicians use the deficit as an excuse to impose tariffs.
The latest round of potential tariffs on imports from China expands the list to include virtually everything, and almost every sector will be adversely impacted. Numerous products which were removed via the hearing process from the $34 billion ("List 1"), $16 billion ("List 2") and $200 billion ("List 3") rosters are now included in the proposed $300 billion list ("List 4").
President Trump has threatened to impose 5% tariffs on all goods from Mexico on June 10 if Mexico does not take action to slow the number of immigrants at the border. As I am writing, he has vowed to continue to escalate the levies to 25%, Mexico has threatened to retaliate, and Congress has announced that it will stop them with enough votes to override a veto. Who knows what the status will be when you are reading this? Even if the situation is resolved, the threat of such action increases uncertainty and makes it more difficult to finalize a replacement for the North American Free Trade Agreement. If the tariffs actually go into effect and are maintained, it would cost hundreds of thousands of US jobs.