The U.S. and Mexico struck a deal on Friday to avoid a new trade war. President Trump had said he would impose a 5% tariff on all Mexican imports starting Monday if Mexico didn’t promise to tighten its borders to prevent undocumented immigrants from entering. Myron Brilliant, U.S. Chamber of Commerce executive vice president, joins ‘Squawk Box’ to discuss.
“The weaponization of tariffs — the increase of threats on our economy on our farmers, our manufacturers, our consumers — is going to hurt our country. It also creates uncertainty with our trading partners,” he said.
Shortly after Brillant’s interview, President Trump called in to CNBC to argue his case for why tariffs are effective.
“If we didn’t have tariffs we wouldn’t have made a deal with Mexico,” Trump said.