The U.S. Chamber of Commerce has a state-by-state breakdown of the projected effects of President Donald Trump’s proposed tariffs on goods imported from Mexico.
Virginia, which had about $1.5 billion worth of Mexican imports in 2018, is way down on the list (consider that Texas had $107 billion) but the impact is still significant.
The chamber estimates that that tariffs would add as much as $365.5 million to the cost of those goods under the 25% tariff, the highest rate contemplated under a gradually increasing scheme that starts at 5% and could begin as early as Monday.
Trump initially said the tariffs were intended to pressure Mexico to curb the flow of migrants to the U.S. border but in a tweet Friday appeared to tie the tariff threat to trade issues, The Washington Post reported.
“If we are able to make the deal with Mexico, & there is a good chance that we will, they will begin purchasing Farm & Agricultural products at very high levels, starting immediately,” Trump said in a tweet. “If we are unable to make the deal, Mexico will begin paying Tariffs at the 5% level on Monday!”
UPDATE: The Trump administration announced a deal that would avoid tariffs Friday.