On May 30, the White House announced its intention to impose a 5% tariff on goods from Mexico in an effort to influence Mexico to address immigration issues. This first 5% round of tariffs is set to go into effect on June 10.
If the U.S. does not deem Mexico’s response sufficient, the tariffs will be increased according to the following schedule:
10%: July 1, 2019
15%: August 1, 2019
20%: September 1, 2019
25%: October 1, 2019
Rates are to remain at 25% until Mexico “substantially stops the illegal flow of aliens coming in through its territory.”
An additional Federal Register Notice is expected prior to the initiation of these tariffs, with additional information to clarify this action. We will update as we know more.
Source: Sandler, Travis & Rosenberg, P.A. (ST&R)
UPDATE (6/11/2019)
On June 7, 2019 Trump announced that the proposed tariffs on imports from Mexico were “suspended indefinitely” due to agreement from the Mexican government to increase immigration enforcement efforts.
Source: Grunfeld, Desiderio, Lebowitz, Silverman & Klestadt LLP