A panel of experts warned state lawmakers on Tuesday, U.S. trade disputes with both China and Mexico could threaten California’s economy.
The presidents’ tariffs on Mexico over illegal immigration are set to kick in on Monday.
“The actions that are being taken by the federal government related to trade are seriously impacting us,” Eleni Kounalakis said.
Lieutenant Governor and former U.S. Ambassador Eleni Kounalakis condemning the Trump administration’s trade and tariff disputes with China and soon, Mexico.
A significant part of California’s economy now at the mercy of the federal government.
“The fact that the federal government is moving forward in such a chaotic, cavalier, unpredictable way, that is having clear negative effects to California. It doesn’t make any kind of rational sense, it is self harm,” Kounalakis said.
Kounalakis, along with a panel of economic experts, warned a committee of lawmakers that several state industries are vulnerable from agriculture, to auto, wine and spirits to technology.
20% of California jobs rely on trade.
Experts say California families could expect to spend an additional $300 to $800 a year as a result of the China tariffs alone.
Aiming to address the state’s affordability issues, Governor Gavin Newsom says he’s concerned President Trump’s words could do damage to the economy.
“He is putting us at real risk. It is the aggregate, not just the individual, the determination of a policy in Mexico but in the aggregate policy in China that puts us in a vulnerable position and it’s unfortunate and I hope he comes to his senses on this,” Newsom said.
State leaders vow to continue speaking out against the trade policies.
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