Trump’s threat of up to 25% tariffs on Mexican imports is shocking! In 2018, total trade with Mexico, our third largest trading partner, was $611.5 billion! Moreover, two-thirds of US-Mexico trade is between factories owned by the same firm. Think auto supply chains that are hard to alter. Lastly, this gambit weakens Trump’s negotiating position vis-à-vis the Chinese by depressing domestic growth by up to 0.7% and killing USMCA/NAFTA passage!