Mexico Tariff Threat Resolved
On June 7, 2019, after the markets closed, President Trump announced on Twitter that the Administration had reached an agreement with Mexico to reduce the number of migrants entering the United States, and has “indefinitely suspended” the planned imposition of tariffs on products from Mexico.
Those tariffs, first announced Thursday, May 30, were scheduled to be implemented on June 10, 2019, at a duty rate of 5%. The tariffs were then expected to ratchet upwards by 5% monthly until hitting 25% or until a suitable agreement between the two countries was reached with respect to migrants.
At this point in time, we expect that the tariff threat has been resolved. However, for questions regarding these and other tariff situations, please contact Maureen Thorson (mthorson@wiley.law | 202.719.7272).
