Trump proposes 20% tax on Mexican Imports, President Nieto cancels meeting
President Donald Trump is considering a 20% tax on products imported from Mexico, and it seems to have him in hot water with congressional leaders. This is a gigantic percentage, and it has politicians in Congress on both sides of the aisle in an uproar.
The White House showed signs of backing down, stating that the tax is just one option out of many that they are weighing. Many fear that a large import tax of this nature would have a major negative impact on our economy, affecting U.S. consumers adversely as prices soar. The tax money would go towards funding the wall the President has pledged to build to block illegal immigration along the U.S. / Mexico border.
The discussion of the tax came after Mexico’s President Enrique Peña Nieto cancelled a meeting with President Trump, which in turn occurred after Trump signed an executive order beginning the border wall construction process, and vowing to make Mexico pay for it. To date President Nieto has categorically refused to agree to pay for the border wall, finding it an affront to Mexico and the Mexican People.
President Trump has a tough road ahead. He’s promised his base a 2,000-mile-long wall along the border with Mexico, but so far it appears the U.S., not Mexico, is going to pay for it. It seems that Trump has promised the American People the impossible, which comes as no surprise to his many detractors. Building such an undertaking is one thing, but getting another sovereign nation to pay for a gigantic construction project when it’s not in the best interest of its people seems highly unlikely at best.
Then again, President Trump’s election seemed highly unlikely as late as November, 2016. Could the border wall pledge have been a manipulative campaign promise, which then candidate Donald Trump had no intention of fully honoring?
Learn more about the proposed 20% tax on Mexican imports (CNN)
Photo: Wikimedia Commons (CC BY 2.0)