Mexico may be forced to pay for the building of a wall between itself and America through an aggressive 20 per cent tax on all its exports to the United States, the White House said last night.
As Mexican President Enrique Pena Nieto refused to fund the estimated $15 billion cost of the wall, and cancelled a visit to the US next week, President Donald Trump vowed to renegotiate the North Atlantic Free Trade Agreement.
He said: “The US has a $60 billion dollar trade deficit with Mexico. It has been a one-sided deal from the beginning.”
His spokesman Sean Spicer later said there were plans to “tax imports from countries that we have a trade deficit from, like Mexico”.
He said: “If you tax $50 billion at 20 per cent of imports, by doing it that way we can do $10 billion a year and easily pay for the wall just through that mechanism alone. That’s really going to provide the funding.”
Mr Trump has discussed the proposal for a 20 per cent import tax on Mexican goods with Republican leaders in Congress, and wants it to be part of a comprehensive tax reform package.
That’s Americans paying for the wall then…..