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Perryman warned that, if implemented, 25 percent tariffs on all goods from Mexico and Canada would result in an estimated loss of $250.6 billion in annual national GDP and approximately 1.97 million jobs, amounting to nearly one percent of the U.S. GDP.
Gary Clyde Hufbauer, a senior fellow at the Peterson Institute for International Economics, told Newsweek that he agreed that the proposed tariffs would “severely impact” Texas.
“Not only all those avocados, mangos, beer, tequila etc. becoming more expensive to Texas consumers, but the decline in cross-border truck and rail traffic will throw a lot of Texans out of work,” he said. “Then there is the loss of Texas sales of consumer goods, cattle, gas, petroleum and electricity to Mexico. Thrown in a decline in Mexican tourism in Texas.”