Trump’s threat of Mexico trade war sends markets lower – BBC News
Trump’s threat of Mexico trade war sends markets lower – BBC News
US President Donald Trump's threat to open a trade war with Mexico sent Wall Street sliding, with shares in carmakers among the worst hit. Markets in Europe were already spooked by news the US would hit Mexico with tariffs in an anti-immigration measure. The main US share markets closed between 1.3% and 1.5% lower. General Motors, which like many carmakers has operations in Mexico, fell 4.3%.
News of the Mexico tariff move comes amid a US trade war with China. Mr Trump announced in a tweet that tariffs on all goods coming from Mexico would be introduced until the country curbs illegal immigration into the US. From 10 June, a 5% tariff would be imposed and would slowly rise to 25% "until the illegal immigration problem is remedied", he said.
