Business Leaders warn Tariffs will be Blow to Texas & U.S. Economies
AUSTIN Texas (Texas Insider Report) The U.S. imports about $372 billion worth of goods from Mexico. $107 billion of that comes directly into the state of Texas" Eddie Aldrete chairman of the Texas-Mexico Trade Coalition told Spectrum News Karina Kling recently.
Of all the things Mexico exports to the U.S. they send them through 10 major ports 6 of those 10 ports are in Texas.
So youre going to see a huge impact not only on the border communities but throughout the state and throughout the United States" Aldrete said.
Border leaders and Texas lawmakers are warning that a looming and possibly lengthy trade war with the states top trading partner could cost billions.
Late last week President Trump said that on Monday June 10th hell begin imposing a 5 tariff on Mexican goods and increase that rate to as high as 25 in the coming months if Mexico doesnt substantially halt illegal immigration across the U.S.-Mexico Border.
According to U.S. Customs & Border Protection statistics released Wednesday the migration boom that has already swamped U.S. authorities along the nations southern border grew even larger in May as more than 144000 migrants were taken into custody a 32 jump from April.
Mays figures represent the highest monthly figure in 13 years CBP officials.
May was the third month in a row that border detentions topped 100000 leaving holding cells along the U.S.-Mexico Border bursting at the seams."
Of the 144278 taken into CBP custody 132887 were apprehended after crossing illegally by Border Patrol agents and 11391 were deemed inadmissible" after arriving at U.S. Ports of Entry.
President Trump said Tuesday hell impose the tariffs despite opposition from Republican lawmakers.
Mexican officials are scheduled to meet later this week with various Trump Administration officials including the U.S. Secretary of State to try and resolve the situation and come to some sort of resolution.