Governor Polis Criticizes Trump's New Tariffs on Allies and American Consumers

Strategic Insights -

Colorado Governor Jared Polis recently released a statement regarding President Trump's new Executive Order on tariffs, which he believes will raise costs for American consumers and hurt small businesses. The new tariffs, set at 25%, will be imposed on several countries, including Japan, one of Colorado's largest trade partners. This move is expected to have a negative impact on the state's economy, particularly in the agricultural sector, which relies heavily on export markets.

Key Takeaways:

  • Governor Polis believes that President Trump's new tariffs will increase costs for American consumers and hurt small businesses.
  • The new tariffs will be imposed on several countries, including Japan, Mexico, Canada, South Korea, and China, all of which are significant trade partners for Colorado.
  • Colorado's agricultural sector, including beef, dairy, wheat, and corn, relies heavily on export markets and will likely be impacted by the new tariffs.
  • The Office of State Planning and Budget (OSPB) has projected that tariff taxes will continue to hurt the economy, impact job growth, cause uncertainty for businesses, and increase the likelihood of a recession.
  • Reports also show that tariffs are leading to an increase in trade crime.
  • Governor Polis hosted Colorado-Mexico Friendship Day and Colorado-Canada Friendship Day in an effort to promote international trade and cooperation.
  • Colorado is the 5th largest state in the nation for beef exports.

Statistics:

  • 25%: The rate of tariffs imposed on several countries, including Japan, Mexico, Canada, South Korea, and China.
  • $10.45 billion: The total value of U.S. beef and beef product exports in 2024.
  • 5th: Colorado's ranking in the nation for beef exports.
  • 2024: The year in which the U.S. exported $10.45 billion in beef and beef products around the world.
  • Several countries: Imposed with new 25% tariffs, including Japan, Mexico, Canada, South Korea, and China.

Sources:

  • Colorado Governor Jared Polis. "Governor Polis: With New Tariffs, Trump Raises Costs for Americans, Hurts Allies." colorado.gov, July 7,
  • Office of State Planning and Budget (OSPB). "Economic Forecast." colorado.gov, June (no date given).