President Trump's announcement of tariffs on imports from Mexico, Canada, and China has sparked concern among San Diego business leaders who fear significant damage to the region's cross-border economy. The tariffs, set to take effect on Tuesday, will impose a 10% duty on all Chinese imports and 25% on imports from Mexico and Canada. Both Mexico and Canada have already retaliated with tariffs of their own, while China has yet to respond. Chambers of commerce in the San Diego region warn of potential job losses and economic disruption as businesses grapple with the increased costs.
President Trump declared an economic emergency and announced a series of executive orders to impose tariffs on imports from Mexico, Canada , and China. The tariffs, set to take effect on Tuesday, include a 10% duty on all imports from China and 25% on imports from Mexico and Canada . Trump's order also includes a mechanism to escalate these rates if the other countries retaliate, raising fears of a more severe economic disruption.
Both Mexico and Canada have already responded with retaliatory tariffs, while China has yet to issue a statement. The Otay Mesa and San Diego Regional Chambers of Commerce expressed deep concern that these tariffs will significantly damage the San Diego County region's cross-border economy. Alejandra Mier y Teran, the executive director for the Otay Mesa Chamber of Commerce, stated that the San Diego region heavily relies on cross-border trade, and the ramifications of Trump's tariff plan could be 'devastating.' Over $50 billion in goods pass through the Otay Mesa Port of Entry south of San Diego annually. Efrain Ramos, the manager of LiVa Market in Spring Valley, said 60% of the market's products are imported from Mexico. Tariffs are paid by companies importing goods into the U.S., acting similarly to a tax. A wide range of businesses, from homebuilders to alcohol producers, have warned of the negative economic impact these tariffs will have on both businesses and consumers. Companies face a difficult choice: pass these higher costs onto consumers or absorb them, potentially leading to decreased profits or the need to cut costs to protect their margins. The implications could be widespread across the U.S. economy, partly because American consumers and businesses import more goods from Mexico than any other country. Mier y Teran explained that 90% of the Otay Mesa Chamber of Commerce's 40,000 employees are engaged in trade, primarily imports. She anticipates many Otay businesses will need to reduce their workforce to survive. 'Tariffs impact not just consumers who will bear the price, but also job losses, basically, many of these businesses won't be able to tolerate that additional price hike and they'll have to close,' she said
TARIFFS ECONOMY MEXICO CANADA CHINA SAN DIEGO TRADE BUSINESS JOBS
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