President Donald Trump disavowed a couple of his top economic advisors when deciding to go ahead with his tariff threat against Mexico for immigration. And when faced with a fall in the stock market and the disgrace of key Republican senators on Friday, the president stood his ground and tweeted: “It’s time!”
Trump’s drastic tariff threat caused waves of turmoil in Washington, sparking concerns within the White House and on the Capitol that a new trade offensive would hamper efforts to ratify a replacement for the North American Free Trade Agreement , and It would drag down the US economy, which depends to a large extent on cars, machines, and food produced in Mexico, just as the 2020 campaign is taking off.
But outraged by an increase in migrants who crossed into the United States illegally this week, the president ignored warnings from US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin with his decision to go ahead on Thursday. with the promise of imposing import duties on all products from Mexico until measures are taken to stop the flow of migrants.
Lighthizer, who has been working to obtain support for the US-Mexico-Canada Agreement (USMCA) in Congress, warned Trump that the measure would hinder the ratification of the trade agreement, while Mnuchin warned Trump that the action would affect the stock market, several sources told.
And when the announcement came on Thursday, Vice President Mike Pence was on the Air Force Two plane returning from a trip to Canada to assure the prime minister that the government was fully in favor of the trade agreement.
The deliberations pitted Lighthizer and Mnuchin against a trio of influential presidential advisers: senior policy adviser Stephen Miller, business adviser Peter Navarro, and interim presidential secretary-general Mick Mulvaney, who supported Trump’s tariff tactics. sources