May 31, 2019

Texas Comptroller Glenn Hegar’s Statement on Plan to Levy Tariffs on Goods Imported from Mexico

(AUSTIN) — I fully understand and support President Trump's efforts to increase security along our southern border; however, the free flow of goods between Texas and Mexico is critical to the Texas economy — an economy that has been a national leader in growth and job creation over the last decade. That tremendous economic growth is partly a result of Texas' role as the leader among all 50 states in international trade. Significant reduction in trade with Mexico undoubtedly will have a dampening effect on both the Texas and national economies.

Texas has been the nation's No. 1 exporting state by a wide margin for nearly two decades. In March, the Port of Laredo surpassed the Port of Los Angeles to become the nation's top port, with $20.09 billion in trade compared to Los Angeles' $19.66 billion. Considering that trade with Mexico represents approximately 40 percent of trade volume in Texas, the negative impacts felt by Texas could quickly ripple through the national economy, so I urge the leaders of both nations to find a swift and lasting resolution to this issue.