welcomes your business update i'm stephen beard zimbalist thanks for joining us president donald trump says he will levy a 5 percent tariff on all mexican imports unless the country curbs migration across the u.s. southern border by june 10th the tariff could rise to 25 percent in october mexico's president andres manuel lopez obrador says he will respond with quote great prudence to trump's latest threat and that it won't stop his country from ratifying the new nafta agreement the u.s. chamber of commerce america's top business lobby as meanwhile said it is considering legal action to stop the move. and let's take a closer look at this with our financial correspondent yes courts in new york. how are the markets responding to this news. well quite allergic hardly anybody here on wall street saw this coming and we saw quite a sell off by a good 350 points ending the week mostly on the lowest level on the day and just to put this into perspective we've traded lower for 6 consecutive weeks so that is actually the longest losing streak in about 8 years so certainly not a very good receptio