Trump suspends planned tariffs for Mexico, that’s good news for trucking

Late afternoon President Donald Trump informed the public that he is suspending his plan to impose tariffs after reaching a deal with Mexico.

In a tweet released late afternoon, Trump wrote – “I am pleased to inform you that The United States of America has reached a signed agreement with Mexico. The Tariffs scheduled to be implemented by the U.S. on Monday, against Mexico, are hereby indefinitely suspended.”
Trump also wrote – “Mexico, in turn, has agreed to take strong measures to stem the tide of Migration through Mexico, and to our Southern Border.”

Those are great news for the whole country but especially for the state of Texas, which was bracing for massive jobs losses because of heavy reliance on trade with our southern neighbor. Those are also great news for the trucking industry and trucking companies which are involved in transporting goods between the US and Mexico.

“Cross-border freight brokers are not panicking over President Trump’s announcement of tariffs on Mexican exports into the United States – yet.” – According to article in http://freightwaves.com and its author John Paul Hampstead

Hampstead also wrote – “Last week the White House said that it would levy tariffs of 5 percent on all Mexican goods entering the U.S. – worth nearly $400 billion annually – beginning on June 10, with the duty increasing by another 5 percent every month through October. The President’s stated goal was to induce Mexico to staunch the flow of Central American migrants through Mexico to the U.S. southern border.”

Read full story HERE

Source and credits : freightwaves.comJohn Paul Hampstead, Associate Editor

 

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