Mexico is North Carolina’s second largest international trading partner, and if President Donald Trump imposes a 20 percent tax on all imported goods from the country, residents can expect to pay more money for goods, including clothing, electronics and produce.
Trump embraced the tax plan floated by House Republicans as a possible way to pay for the wall he approved to be built along the United State’s southern border, estimated to cost as much as $20 billion.
The North Carolina Democratic Party released a statement today about how the tax, if imposed, would hurt the state’s middle class by making everyday goods more expensive and jeopardizing export-dependent jobs.
In addition, President Trump’s proposed border tax could cause a debilitating trade war, risking the good-paying North Carolina jobs, in everything from agriculture to high-tech manufacturing, that contribute to over $3 billion in annual exports from our state to Mexico.
“Yet again, President Trump has shown us that he values bluster and protecting his ego more than doing what’s right,” said NCDP Executive Director Kimberly Reynolds. “Instead of finding a diplomatic solution to pay for his wall, Trump’s proposal will cause real damage to North Carolina’s middle-class by making every day goods more expensive and by destroying the good-paying manufacturing jobs he constantly brags about creating.”