Surprise tariffs on Mexican imports may be especially bad for several key electoral states ahead of the 2020 election.
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Surprise tariffs on Mexican imports may be especially bad for several key electoral states ahead of the 2020 election.
Border state Arizona gets about 40% of its imports from Mexico, the highest share of any state, CNBC's Jacob Pramuk and John Schoen report. Roughly 38% of Michigan's imported products come from Mexico, while about 35% of Texas' imports are from its southern neighbor. New tariffs on Mexican goods announced late Thursday night could raise costs for companies and consumers in those three states, which President Donald Trump carried in the 2016 election.  Arizona has been trending toward favoring Democrats. Michigan is a swing state that voted for Barack Obama in 2008 and 2012. And while Texas is a reliably red state, several Republican lawmakers are facing tough reelection campaigns next year. In a tweet Thursday, the president said the U.S. would slap 5% duties on all Mexican imports starting June 10 to push its southern neighbor to curb illegal immigration. Based on 2018 trade numbers, in which the U.S. imported $371.9 billion from Mexico, that would equate to a tax on U.S. consumers that would start at $18.6 billion and escalate to just shy of $93 billion, CNBC's Jeff Cox reports. |
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