Stocks drop as Trump threatens new tariffs on Mexico
May 31, 2019
President Donald Trump, further conflating trade and immigration issues, has threatened a five percent tariff on goods from Mexico beginning on June 10, potentially going up 25 percent. The cause of Mr. Trump’s threats is his concern about immigrants including those that come across the border illegally as well as those seeking legal asylum status in the U.S. The Dow Jones is expected to open about 300 points lower on the news, which will affect around $347 billion in goods imported by U.S. companies.
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