Weekend showdown of the Democratic Candidates in the biggest super tuesday state. Is biden using his thinking cap or kid gloves . Welcome to tthe lead. Im jake tapper. We start today with our money lead. And President Trump who could be sabotaging two of his top priorities. The thriving u. S. Economy and a replacement for nafta. Hes doing this to try to force mexico to help with one of his other top priorities, stopping illegal immigration. The president now threatening to punish mexico with higher and higher tariffs on every single product that comes across the border until, quote, 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, unquote. Investors nervous and the dow taking a hit today over the president s tariff threats, closing down more than 350 points just moments ago. And the president s plan quickly drawing backlash from even some of the president s closest allies
Latest tariff threat on mexico and it is all part of the president s battle over the border. He said if mexico doesnt help, that country will be hit with a 5 tariff on everything from cars to food to beer starting in june. And he said that number will increase 5 every month until it hits a maximum tariff of 25 in october. And that move sparked concern from some Congressional Republicans and outrage from top mexican officials. In an open letter to President Trump, mexicos president wrote in part, quote, social problems are not resolved with tariffs or coercive measures. The statute of liberty is not an empty symbol with all due respect and while you have this sovereign right to express it, your slogan America First is a fallacy. But Sarah Sanders is saying shes defending the decision. Congress should actually fix the laws and we wouldnt have this problem. Mexico should engage with us and we wouldnt have to take any additional steps. But at the same time, the number one duty that the pre