Trump Proposes 20% Tax on Mexican Imports

“President Trump plans to make Mexico pay for his border wall by imposing a 20 percent tax on all imports into the United States from Mexico, raising billions of dollars that would cover the cost of the new barrier,” the New York Times reports.

White House press secretary Sean Spicer “said the 20 percent tax on annual Mexican imports would raise $10 billion a year and would easily pay for a border wall that is estimated to cost between $8 billion and $20 billion. The value of imported goods from Mexico in 2015 was $296 billion.”

However, the White House insisted a few hours later “that it was not endorsing the plan.”

Sen. Lindsey Graham (R-SC) on Twitter: “Simply put, any policy proposal which drives up costs of Corona, tequila, or margaritas is a big-time bad idea. Mucho Sad.”