Trump's tariffs starting tomorrow for Mexico
So let's see how much this affects the Texas economy with all of the trade coming though our border towns. Gonna be a fun ride
Editing to add Personal experience with tariffs. In 1993 I opened my first company and was importing citrus juices from Mexico. I was a small importer and my total imports were valued at around $4 million USD. The duties (tariffs) I paid to the US Government for the right to import that juice was over $1 million USD. Now for those saying I made a huge profit I didn't. The normal mark-up on agriculture commodities is like 4% which is about what I did that year. The US consumer paid for those tariffs and not Mexico. So tariffs can have a huge effect on what consumers pay and all sorts of associated businesses that have to do with the importation and distribution of Mexican products. And we will also see if & how there may be retaliation by the countries involved. Go ask the soybean farmers in the Midwest if they have fully recovered from Trumps tariffs in 2018. Their answers may surprise you. Lots of jobs in Texas can & will be affected by tariffs if Trump puts them in place. It will not be pretty as the US imports almost $45 Billion from Mexico in food imports each year. The higher prices will all be paid by the consumers at the grocery stores.