By Brian Bradley / www.americanshipper.com / June 10th, 2019
President Trump agreed to indefinitely suspend threatened tariffs against Mexico after the U.S. and that nation on Friday reached a deal aimed at stemming the flow of illegal migration to the United States.
Trump tweeted on May 31 that he would impose tariffs on Mexico starting at 5% on June 10 and gradually increasing until Mexico stopped the flow of illegal migration into the U.S.
National Customs Brokers and Forwarders Association of America (NCBFAA) President Amy Magnus said brokers were relieved that the two countries reached a deal for the U.S. to indefinitely suspend any tariffs on Mexico, adding that it would have been difficult for brokers and forwarders to respond to any tariffs within such a short time frame.
“In our industry, to be able to turn on a dime and suddenly start collecting 5% duty on goods that have been otherwise duty-free for over 20 years would’ve caused a real difficulty for the brokers and forwarders,” Magnus said. “We need time to prepare for changes like this.”
In a letter sent last week to Senate Majority Leader Mitch McConnell, R-Ky., Magnus said the NCBFAA was “gravely concerned” over Trump’s threat to impose tariffs on Mexico.
“If allowed to occur, the impact will be swift and severe,” she wrote.
In a tweet Saturday, Trump predicted there will be “great cooperation” between the U.S. and Mexico, but added if there’s not, the U.S. can “always go back to our previous, very profitable, position of Tariffs – But I don’t believe that will be necessary.”
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