Article snippet: The Dow Jones futures dropped more than 100 points on Thursday after MORE announced plans to impose tariffs on Mexico until the flow of immigrants to the southern U.S. border is cut off. The index saw losses of almost 200 points by 8:15 p.m., less than an hour after Trump tweeted to announce a 5 percent tariff on all imports from Mexico that would "gradually increase" until the flow of migrants stopped. Trump announced Thursday that the duties would go into effect on June 10 and that they would get steeper until the "Illegal Immigration problem is remedied," suggesting a high goal for Mexico's officials to meet before the tariffs would lift. The tariffs are expected to raise to 25 percent by Oct. 1 if Mexico does not substantially reduce the number of immigrants illegally crossing the U.S.-Mexico border. White House officials defended Trump's decision to reporters, declaring it necessary to force Mexico to assist the Trump administration in dealing with conditions at the border, which the administration has called a crisis. “Americans are paying for this right now. Illegal immigration comes at a cost. American taxpayers are paying for what’s going on at the border. This is already impacting the economy negatively,” acting chief of staff MORE said Thursday. The market has dropped by hundreds of points at a time following similar announcements of tariff action by the Trump administration since the beginning of this year, though losses are often regained in the foll... Link to the full article to read more