The head of a U.S. manufacturers association says President Donald Trump’s proposed tariffs on Mexico would have "devastating consequences" on the industry and calls the move a "Molotov cocktail of policy.”
Trump is threatening to impose tariffs to force Mexico to stop people from illegally crossing the U.S. border. Tariffs would start at 5% on all goods from Mexico on June 10 and gradually ramp up to 25%.
“When you conflate immigration, tariffs and trade, you really do create this recipe, frankly, for a disaster when it comes to U.S. manufacturers,” Jay Timmons, president and CEO of the National Association of Manufacturers, said on Yahoo Finance’s “The First Trade.”
Read the full story, "Head of manufacturers group calls Mexico tariffs a 'Moltov cocktail,' " at finance.yahoo.com.