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President Trump has threatened to impose tariffs on goods imported from Mexico, starting next week, if Mexico doesn't take action to reduce the flood of Central American migrants across the Southern border of the U.S.

The proposed tariffs — which would start at 5% on goods crossing the border and could ramp up to 25% over time — would play havoc with supply chains in the auto industry.

To understand why, consider a vehicle's wiring harness — the car's nervous system, consisting of a complex network of wires that connect electronic components throughout the car body.

Updated at 5:40 p.m. ET

The United States and Mexico have reached an "understanding" on several critical trade issues following bilateral talks to renegotiate the North American Free Trade Agreement. They will now likely re-engage with Canada to reach a final deal on NAFTA, a primary goal of the Trump administration.

Speaking at the White House on Monday, President Trump said he wanted to change the NAFTA name to the U.S. Mexico Free Trade Agreement. He also reframed the negotiations as two bilateral trade deals.

cleveland.com

Republican U.S. Senator Rob Portman of Ohio says he's concerned about the impact President Trump's tariff battles will have on Ohio's economy.