Trump tariffs on Mexican goods could cost Texas and California thousands of jobs, a new study says.
Key Points
The analysis estimates that the largest number of job losses nationally would be in retail trade, followed by manufacturing.An assembly line worker loads cast iron cookware into machinery at the Lodge Manufacturing factory in South Pittsburg, Tennessee.'s plan to impose a 5% tariff on Mexican goods could cost the U.S. economy more than 400,000 jobs and hit Texas especially hard, according to a new analysis.
The impacts of the administration's trade policies on a red state such as Texas raises potential political risks for Trump ahead of the 2020 presidential election. It also comes amid the ongoing trade war with Beijing that has resulted in a decline in major agricultural exports to China, including soybeans and pork produced in many Midwestern states where Trump enjoyed strong support in the 2016 election.
"Much is at stake for both nations," the Texas firm's report said. "If Mexico retaliates and imposes tariffs on the U.S., which is likely, the negative effects on the economy would be even greater." Last year, Texas imported more than $107 billion worth of goods from Mexico and sold nearly $110 billion of exports. U.S. imports from Mexico last year surpassed $346.5 billion while exports topped $265 billion.
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