Luján: Trump’s Trade War Will Increase Costs for New Mexicans, Have Devastating Consequences for American Industries and Jobs

WSJ: “Economists say American importers and businesses will likely pass along the cost of tariffs to consumers, meaning individuals are likely to see higher prices at grocery stores and car dealerships.”

POLITICO: “The agriculture industry will take a major hit from the new 25 percent duties on Mexico and Canada that went into effect at midnight.”

Washington, D.C. – U.S. Senator Ben Ray Luján (D-N.M.), a member of the Senate Committee on Finance, issued the following statement on President Trump imposing sweeping tariffs against Canada, Mexico, and China:

“President Trump’s reckless Trade War will lead to higher prices for New Mexicans on groceries, energy, cars, electronics, and more. Instead of strengthening our economy, he’s putting American jobs and businesses at risk while pushing the Tax Scam 2.0 for the wealthy and gutting essential programs. These tariffs could cost American families up to $2,000 a year in higher prices.

“We’ve seen this before. During his first term, President Trump’s tariffs cost the agriculture industry billions of dollars. Now, our farmers and ranchers are once again paying the price. Despite President Trump’s claims, it’s American families and businesses who will bear the brunt of these tariffs.

“President Trump is doing nothing to lower costs for hardworking Americans.”  

Fact sheets on New Mexico trade with Canada, Mexico, and China are available HERE.

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