Potential Mexico Tariffs Announced for June 10th
Posted 05/31/2019
Yesterday President Trump made an dramatic announcement that unless the flow of immigration from Mexico is halted, the United States will impose a 5% tariff on all goods coming out of Mexico. This announcement, needless to say, would have a drastic impact on the economies of both countries. Import penalties would begin June 10th and would escalate in increasing increments if actions are not taken to reduce the immigration flow by Mexico. President Trump indicated that by July 1st tariffs would increase to 10%, by August 1st they would jump to 15%, and by September 1st, they would impose a 20% tariff if it appears that no action has been taken.
While there are still many unanswered questions regarding President Trump's threats, if these tariffs are put into place, many industries that rely on trade with Mexico would be negatively impacted. As everyone in our industry is aware, there is a massive volume of Mexican beer, tequila, and mezcal imported into the USA and the new tariffs could immediately affect importers, distributors, and, ultimately, consumers.
The proposed Mexico tariffs, on top of the potential for EU tariffs and retaliatory response, continue to create uncertainty and unease in the alcoholic beverage industry. For more information on this issue, please refer to the following articles:
We will update you as we find out more on this issue. If you have any questions or concerns, please contact us.
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