Trump threatens to double tariffs on Mexico
U.S. President Donald Trump announced that he would double tariffs on Mexico if the country fails to stop migrant caravans that he claimed were preparing to move toward the U.S. border.
In a social media post, Trump called on the Mexican government to take immediate action to prevent the migrants from advancing. He warned that tariffs on Mexican-origin goods would be doubled immediately if the authorities failed to intervene.
Trump did not specify a deadline for Mexico to implement the necessary measures. Following the U.S. president's tariff threat, the Mexican peso weakened to its lowest level of the day. The announcement raised the prospect of renewed trade tensions between the United States and Mexico, increasing uncertainty over the potential impact of higher tariffs on bilateral trade and financial markets.