“In a couple of dramatic tweets, backed up by a briefing call featuring acting DHS Secretary Kevin McAleenan and acting White House Chief of Staff Mick Mulvaney, the Trump administration rolled out a new policy aimed at coercing Mexico into halting the flow of Central American asylum seekers into the United States — a 5 percent tax on Mexican imports rising steadily to 25 percent unless Mexico cracks down on migration.” Vox: Trump’s new plan to tax Mexican imports, explained. (Mexico is not going to pay for the wall. But American consumers are going to pay for these tariffs.)

+ Bloomberg: Trump Tariff Vow Roils Markets, Autos as Mexico Urges Talks.

+ “Of course, Mexico isn’t Mr. Trump’s only target. Far from it. In fact, what he’s taking on is broader than any particular country. He is challenging the post-World War II consensus that free trade enriches the world.” NYT: How Trump’s Trade War Is Being Fought Around the World. (What do you call doing the same thing over and over and expecting a different result? Tariffs…)