President Trump’s threatened tariffs on imported Mexican goods could end up costing U.S. consumers around $17 billion, and possibly more.
President Trump’s threatened tariffs on goods imported from Mexico could end up costing U.S. consumers $17 billion or more, according to an analysis released by the Chamber of Commerce, the nation's largest business advocacy group.
“The Tariff will gradually increase until the Illegal Immigration problem is remedied,” the president wrote. Texas was calculated to have imported around $107 billion worth of goods from Mexico last year, the most of any state, meaning a 5 percent tariff would cost the state in excess of $5 billion over the course of a year.
After California, whose imports from Mexico total around $44 billion, the list names nine other states each importing over $5 billion worth of Mexican goods annually. A handful of these states—Ohio, Florida and Pennsylvania—are considered swing states for the 2020 presidential election. The president levied 25 percent tariffs on steel imports and 10 percent tariffs on aluminum imports in March of last year.
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