The US and China's trade war could hurt the global economy (Credit: Textiletoday.com)

On Thursday, May 30, 2019, US President Donald Trump announced plans to impose a 5 percent tariff on all Mexican imports by June 10, 2019. He also warned of the possibility of increasing the tax to 25 percent if Mexico does not take immediate action "to dramatically reduce" the number of migrants that illegally cross the border into the United States daily.