US-Mexico trade dispute immediate threat to America’s economy: Richard Haass
President Trump's threat to slap tariffs on Mexico by June 10th is more of an immediate problem for the U.S. economy vs. China, according to the Council on Foreign Relations president Richard Haass.
“I think in the long term the answer is China. In the short run though it might actually be Mexico in part because it was so unexpected,” Haas said during an exclusive interview with FOX Business’ Liz Claman on Monday.
Trump tweeted last week that he intends to impose a 5 percent tariff on imports from Mexico unless the migration crisis at the southern border stops.
On June 10th, the United States will impose a 5% Tariff on all goods coming into our Country from Mexico, until such time as illegal migrants coming through Mexico, and into our Country, STOP. The Tariff will gradually increase until the Illegal Immigration problem is remedied,..
— Donald J. Trump (@realDonaldTrump) May 30, 2019
Haas said tariffs on Mexican goods will economically hurt one of America’s largest trading partners and will likely have no impact on the source of the flow of illegal immigrants into the country.
“This looks to me and I am always careful not to impugn motives, but this looks a lot about immigration and politics,” he said on “Countdown to the Closing Bell.”
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Haas said Trump is undermining the success of the U.S. economy in his efforts to look tough on trade with China and immigration with Mexico.
“[Trump’s] biggest calling card has been the relative success of the economy and how he is going to balance these is a real conundrum.”