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'It's A Tax Increase... Brought To You By Donald Trump': Padilla Slams Trump's Mexico Tariffs
Forbes Breaking News
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2 days ago
During an interview with CNN on Sunday, Sen. Alex Padilla (D-CA) spoke about President Trump's tariffs on Mexico.
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00:00
30% tariffs on goods from Mexico, 35% tariff on goods from Canada starting August 1st.
00:07
Canada and Mexico are two of your state's biggest trading partners. Do you think,
00:12
A, they will go into effect, and if they do, what effect that would have on the businesses
00:18
and consumers in your state? Yeah, both Canada and Mexico aren't just the largest trading partners
00:23
for the state of California. They're among the largest trading partners for the United States
00:27
of America. And so let's remember what happens when tariffs take effect. Those, first of all,
00:33
costs will increase, and the people who pay that price increase are United States consumers.
00:39
It's U.S. companies importing products from those countries that will pass along the cost to the
00:44
American consumer. So in effect, it's a tax increase on the American people brought to you by Donald Trump.
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