UNITED STATES - AUGUST 9: President Joe Biden, Speaker of the House Nancy Pelosi, D-Calif., right, Senate Majority Leader Charles Schumer, D-N.Y., and Secretary of Commerce Gina Raimondo, arrive for The CHIPS and Science Act of 2022 bill signing on the South Lawn of the White House, which provides funding for the semiconductor industry, on Tuesday, August 9, 2022. (Tom Williams/CQ-Roll Call, Inc via Getty Images)
President Trump has announced plans to impose escalating tariffs on goods imported from Mexico in an attempt to stop migrants from entering the U.S. over the southern border. Shown here are migrants at the border in El Paso, Texas, on Wednesday.