President Donald Trump will be asking Congress to put a 20 percent tax on all imports from Mexico in order to pay for the wall along the southern border of the U.S., according to The Associated Press on Thursday.
This decision came in retaliation to Mexican President Enrique Peña Nieto’s sudden cancellation of his upcoming meeting with President Trump. It was a counter to several executive orders signed by the President this week that related to immigration and construction of the border wall which Trump still insists that Mexico will be paying for.
President Trump has already shown, just in his first week in office, that he’s not one to wait around for other countries to take the lead on issues important to America.
Conservatives aren’t usually in favor of tariffs being added to imports since cost is ultimately passed on to the consumer and has even sparked retaliation by those nations hit by the tariffs. In this case, however, the border tax on Mexico will most likely hurt them more than it hurts the U.S., at least for the short term. It may not even be an issue in the long run, as the plan is for this to be a temporary tariff designed specifically to fund construction of the wall.
Via The Hill White House press secretary Sean Spicer did not give out specific details about the new tax or explain how it would be implemented, but he said it could be included in a comprehensive tax reform package.
“We can do $10 billion a year and easily pay for the wall just through that mechanism alone. That’s really going to provide the funding,” Spicer told reporters aboard Air Force One.
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