If President Trump carries through with his threat to slap tariffs on imports from Mexico starting Monday, the move will hit Americans' wallets and jobs, say many experts in economics, political science, and diplomacy.
President Donald Trump's intention to slap tariffs on imports from Mexico starting Monday will primarily hurt Americans, say many experts in economics, political science, and diplomacy.
Addressing country of first asylum is"very complicated and technical," Caulfield said, noting that it is best done through negotiation and planning with other governments. In 2018, the U.S. imported $346.5 billion in goods from Mexico, according to the Office of the U.S. Trade Representative. At even 5 percent, that would be a tax of $17.3 billion. Unless manufacturers in Mexico decide to absorb the costs themselves — which has virtually no chance of happening — the impact will be split among importers, wholesalers, retailers, and consumers, with the burden significantly if not entirely passed on to the latter.
"These minor adjustments to supply chain and production are potentially not that distortive," Soderberry said."But if it gets to the point that you have to make a big shift and move a plant, then what do you do? Then it can be 10,000 jobs that are lost. That's a pretty big effect."
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