Trump tariffs arrive

Good Tuesday morning. Spring in North Texas has arrived. Crazy wind and rain this morning and now about 300,000 are without power.

Get in touch: greg@gregcox.law

TRUMP TARIFFS. Not much to say on this except the Trump tariffs on Canada and Mexico begin today. “Tomorrow — tariffs 25% on Canada and 25% on Mexico. And that’ll start,” Trump told reporters yesterday at the White House. “They’re going to have to have a tariff.”

Adios Topo Chico? Mexico is Texas' biggest trade partner by a long shot. According to the governor's office, we traded about $272 billion with Mexico in 2023, including $142 billion in imports. Much of that was attributable to a single 24-pack of Topo Chico I keep securely locked in my garage fridge.

Familiar Road: While the beginning of the tariff is news, the policy is not. Texas business leaders, including those supportive of other Trump policies, have shown concern. Glenn Hamer, CEO of the Texas Association of Business, previously told the The Texas Tribune: "There would undeniably, indisputably be a negative economic impact if tariffs were to be enacted." And last week, he said, "We need a strong North America, and that means keeping North America tariff free and, if anything, working on ways to reduce non-tariff barriers between Mexico, Canada and the United States.”