Mexico is negotiating with the Trump administration to avoid getting slapped with steep tariffs, and they would need to make major concessions according to an agreement proposal.
President Donald Trump threatened to hit Mexico with growing tariffs if they did not help stem the tide of a growing immigration crisis at the U.S.-Mexico border.
According to the Washington Post, Mexico would send thousands of troops to their border with Guatemala under the proposal in order to prevent more migrants from travelling through the country on their way north to the U.S. border.
Mexico would also change asylum rules in order to accept refugee applications in Mexico instead of letting them trek to the U.S., something that they have rejected in the past, before the tariff threat.
Trump told reporters in Ireland that the negotiations were proceeding well and that he was happy with them.
"We're having a great talk with Mexico. We'll see what happens, but something pretty dramatic could happen," he said.
"We've told Mexico the tariffs go on, and I mean it, too. And I'm very happy with it," Trump added.
Vice President Mike Pence confirmed that if negotiations aren't successful, the first iteration of tariffs at 5 percent would commence against Mexico on Monday.
"If we don't see the results that we need to see, we don't see action by Mexico in the months ahead, those tariffs will increase," he said to the media.
The tariffs on goods from Mexico would increase every month until they reach a costly 25 percent, unless a deal a reached.
Here's the latest on the tariff threat to Mexico:
Pence says Mexico tariffs still set for Monday www.youtube.com