Kamala Harris speaks out against NAFTA 2.0, new tariffs on Mexico as trade tensions rise

[TexasTowelie]

WASHINGTON -- California Sen. Kamala Harris condemned President Donald Trump’s tariff threat against Mexico, calling it another “Trump trade tax” and warning it could cost her home state tens of thousands of jobs.

Harris said Wednesday that if the White House imposes the tariffs next week, as the president has threatened, it will not only harm the state’s economy but could also cost local jobs.

“It’s estimated we could lose like 50,000 jobs because of it,” the senator told McClatchy. Those figures are based off an analysis done by a Texas-based economic consulting firm, the Perryman Group. According to the report, the country stands to lose 400,000 jobs as a result of a 5% tariff on Mexican goods over the course of a year, a figure that would rise if the Trump administration follows through on the president’s threat and increases the tariff rate over time.

The biggest job losses would come in retail trade, i.e. merchandise sales, including restaurants, the report projects. Large job losses are also predicted for the manufacturing sector.

Read more here: https://www.mcclatchydc.com/news/policy/trade/article231269848.html