The US consumer will pay at least 20% more for food and items imported from Mexico. That is, if they they can even find the products in the stores. Many products manufactured or grown in Mexico will simply be exported to other countries where such taxes are not imposed. Yes, the US consumer will get screwed.
US Consumers will pay for the wall.[1]
The Yucatan Times, “Mexican President Enrique Pena Nieto announced on Twitter around midday on Thursday that he was scrapping a planned trip to meet with U.S. President Donald Trump, who has repeatedly demanded that Mexico pay for a wall on the U.S. border. Later in the day, White House spokesman Sean Spicer sent the Mexican peso falling to its low for the day when he told reporters that Trump wanted a 20 percent tax on Mexican imports to pay for construction of the wall.”[2]
References:
- The Washington Post, January 27, 2017, Joshua Partlow and William Branigin – President Trump and Mexican president speak by phone amid crisis in relations
- The Yucatan Times, January 27, 2017 – U.S.-Mexico crisis deepens with White House proposal for border tax on imported goods