(TB&P) — If President Donald Trump moves forward with his plan to impose a 5% tariff on all goods from Mexico starting on June 10, the impact would be equal to a $45.2 million tax on Arkansas businesses and families, according to new analysis released Friday (March 31) by the U.S. Chamber of Commerce.
The analysis by the nation’s largest business lobby, usually a reliable ally to the Trump administration, shows the total value of 2018 goods imports from Mexico for all 50 states and the corresponding impact of imposing tariffs at the 5%, 10%, 15%, 20%, and 25% level based on data from the U.S. Department of Commerce.
The powerful business lobbying group, with over 3 million members nationwide, said it was exploring all options, including possible legal action following the Trump administration’s announcement on Thursday to impose tariffs on Mexico in response to the influx of migrants at the southern border.
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