Someone please tell President Donald Trump to stop with the tariffs! He announced yesterday he wants to impose tariffs on Mexican imports over the migration surge from our southern neighbor.

A tariff of 5% would go into effect on June 10 and could rise to 25% on October 1.

The administration told Fox News that Trump wants Mexico “to step up security efforts on the border, target transnational smugglers, crack down on illicit bus lines and align with the U.S. on a workable asylum policy.”

Trump has the power to take this action thanks to the International Emergency Economic Powers Act of 1977, which allows the executive branch to levy tariffs “in the event of a national emergency originating from a foreign source.”

Some think this path will cause problems for the “legislative passage of the United States-Mexico-Canada Agreement (USMCA), sent to Congress by the White House on Thursday, which has aimed broadly to limit tariffs among the three countries.”

Mexican President Andrés Manuel López pushed for Trump to take the dialogue route. From The Wall Street Journal:

“Social problems are not resolved with taxes or coercive measures,” he said. He reiterated his proposal to confront migration through development efforts in Central America, adding that Mexico is doing what it can to curb the flow of migrants across Mexico without violating human rights.

“People don’t leave their homelands for pleasure but out of necessity,” Mr. López Obrador said. “I don’t lack courage, I’m not a coward or timid, but act out of principles. I believe in politics which, among other things, was invented to avoid confrontation and war.”

He asked Mr. Trump to make U.S. officials available to meet with Mexican officials, led by Foreign Minister Marcelo Ebrard, who will travel to Washington on Friday.

The auto industry is the most significant import from Mexico at $93 billion.

The threat of tariffs has already affected the stock market. General Motors and Ford manufacture car parts in Mexico, which led to their shares going down this morning. Other car companies felt it as well. Mazda went down 7% this morning in Asia while Honda fell 3.2%, Toyota down 2%, and Nissan tumbled 3.6%.

Tariffs could also harm other consumer goods like appliances, produce, and apparel. From CBS News:

Other products that the U.S. imports from Mexico include electrical machinery, at $64 billion in imports, and agricultural imports, at $26 billion. Mexico is the largest agricultural supplier to the U.S.

The costs to consumers could be considerable, with Raymond James estimating that U.S. businesses and consumers would shell out $86 billion in tariffs. That’s on top of $62.5 billion in tariffs placed on Chinese goods by the Trump administration, which will go into effect on June 1 Beijing time.

The apparel industry decried the Mexico tariffs, saying it represents “another tax for Americans.” Mr. Trump has continuously misrepresented who pays tariffs, falsely stating that China pays the tariffs. In fact, U.S. importers — businesses like Walmart and Costco — pay the tariffs, with many retailers warning they will need to pass on the costs to consumers by raising prices.

You all know I despise tariffs, but one of my best friends works in the finance industry. He relayed to me that other factors harm our farmers and other sectors more than tariffs. I’ll get into that later when I complete my research.

But the fact is, with those other factors already bogging down people here, we don’t need tariffs on top of it.

However, something tells me this is the business side of Trump. It reminds me of real estate, but the opposite. You usually go in and offer the lowest price you can and the work with the seller to the middle.

It seems like Trump will ask for the moon, bring people to the table, and negotiate downward. We import way too many products, which makes it look like we have a lot to lose, but since we import so much, it makes us a big customer to those countries. In other words, they have a lot to lose as well.