White House trade adviser urges investors to ‘calmly assess’ new tariffs on Mexico

OAN Newsroom
UPDATED 10:54 AM PT — Friday, May 31, 2019

White House trade adviser Peter Navarro is encouraging investors to “calmly assess” the Trump administration’s new tariffs against Mexico. In an interview Friday, he attempted to calm fears about the impact the five-percent import duties will have on U.S. consumers and the economy.

Thursday’s tariff announcement came as a surprise to Wall Street, sending markets sharply lower as a result. However, Navarro said there should be “no surprise” that President Trump is taking a firm stance against Mexico.

A sign displays exchange rates on a storefront window in Mexico City, Mexico, Friday, May 31, 2019, a day after President Trump announced a five-percent tariff — that could increase incrementally to 25% — on all Mexican imports. The economic impact for Mexico was swift. The peso dropped more than 3% against the U.S. dollar by Friday morning. (AP Photo/Ginnette Riquelme)

“This is actually a brilliant move by the president to get Mexico’s attention to get them to help us, because, so far, they’ve just been standing by and they really have the power to help…the two institutions that have the power to help us is the Mexican government and the Congress,” explained  Navarro. “Congress has done nothing, the Mexican government can really help us here — that’s what we’re really asking them to do.”

The U.S. trade adviser also said the tariffs have the potential to rise as high as 25-percent. unless Mexico makes substantial changes to stop the flow of illegal immigrants traveling through the country to the U.S.

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