05.31.19 • -1.32%
Near term factors:
China Trade Deal
Long term factors:
Federal Reserve economic outlook
President Trump announced he would start a 5% tariff on all Mexican goods starting June 10th with an increase up to 25% by October. This immediately spooked the market causing a gap down on the open. This causes the U.S to worry because Mexico is a top trade partner. Many fruits, vegetables, oil, and cars are imported into the U.S from Mexico. Trump has stated before that he is tired of Mexico ignoring our shared border problem. Trump believes this will cause Mexico to take action and reduce the inflow of illegal immigrants to the U.S. Investors are now worried about China and Mexico in the coming months as this could throw the economy into a recession. Stay tuned to see how Mexico responds to the new tariffs.
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