Article snippet: Senate Finance Committee Chairman announced he would impose the tariffs to pressure Mexico to stop the flow of migrants into the U.S. via the southern border. "On June 10th, the United States will impose a 5% Tariff on all goods coming into our Country from Mexico, until such time as illegal migrants coming through Mexico, and into our Country, STOP. The Tariff will gradually increase until the Illegal Immigration problem is remedied," he tweeted late Thursday. The tariff will increase by 5 percent each month until it reaches 25 percent “unless and until Mexico substantially stops the illegal inflow of aliens coming through its territory,” the president said a statement distributed by the White House. The move could rattle financial markets at a precarious time for the president’s trade policy, as the White House pressures Congress to approve Trump’s revision of NAFTA. Dow futures plummeted more than 200 points on Thursday evening after the president announced the new tariffs. Grassley had previously threatened to derail Trump's central trade achievement over continued steel and aluminum tariffs. Last week, Trump hinted that he had reached a deal to drop those tariffs, paving the way for the USMCA in the Senate. Even with Grassley's approval, Trump will face a hurdle passing the agreement in the House, where Speaker MORE (D-Calif.) has insisted on labor and enforcement improvements to the deal. Earlier Thursday, Trump formally kicked off the approval process for... Link to the full article to read more