Global shock waves, after U.S. President Donald Trump announced plans to impose a 5 percent tariff on all imported goods from Mexico.

Trump wants Mexico to stop migrants trying to illegally cross the U.S. border.

Investors were already jolted earlier this month when Trump announced new duties on Chinese imports, halting any hopes of a trade deal. And on June 1, Beijing is expected to raise tariffs on thousands of U.S. goods.

CGTN’s Nathan King reports.

Follow Nathan King on Twitter@nathanking

• Arturo Sarukhan served as the Mexico Ambassador to the US and is an international strategic adviser.
• Qinduo Xu is a senior fellow at the Pangoal Institution.
• Arthur Dong is a professor at the McDonough School of Business at Georgetown University. 
• Jeff Moon is a former Assistant U.S. Trade Representative for China and currently an international consultant. 

For more:

Here's the latest on President Trump's planned tariffs on Mexico: President Andrés Manuel López Obrador of Mexico said he would send a delegation to Washington to try to dissuade Trump from carrying out the threat. https://t.co/Zo2SfGustY

— The New York Times (@nytimes) May 31, 2019

MOFCOM: #China to establish “unreliable entities” list https://t.co/fCgibQCIg7

— CGTN (@CGTNOfficial) May 31, 2019

China halts US soy purchases amid trade war https://t.co/5vzwyUVPPi pic.twitter.com/GvsupXk7yk

— The Hill (@thehill) May 30, 2019