MEDIA ADVISORY: Texas Comptroller Glenn Hegar's Statement on Plan to Levy Tariffs on Goods Imported from Mexico
Texas Comptroller of Public Accounts sent this bulletin at 05/31/2019 03:49 PM CDT
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512-463-4070 |
1-800-531-5441 ext. 3-4070 |
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May 31, 2019 Texas Comptroller Glenn Hegar's Statement on Plan to Levy Tariffs on Goods Imported from Mexico (AUSTIN) — I fully understand and support President Trump's efforts to increase security along our southern border; however, the free flow of goods between Texas and Mexico is critical to the Texas economy — an economy that has been a national leader in growth and job creation over the last decade. That tremendous economic growth is partly a result of Texas' role as the leader among all 50 states in international trade. Significant reduction in trade with Mexico undoubtedly will have a dampening effect on both the Texas and national economies. Texas has been the nation's No. 1 exporting state by a wide margin for nearly two decades. In March, the Port of Laredo surpassed the Port of Los Angeles to become the nation's top port, with $20.09 billion in trade compared to Los Angeles' $19.66 billion. Considering that trade with Mexico represents approximately 40 percent of trade volume in Texas, the negative impacts felt by Texas could quickly ripple through the national economy, so I urge the leaders of both nations to find a swift and lasting resolution to this issue. |
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