WATCH: Southwest State Treasurers Demand Trump End Trade War With Mexico As “Chaos and Confusion” Damages U.S. Economy, Hurts Consumers

California State Treasurer Fiona Ma: “Tariffs equal taxes and taxes equal increased inflation.”

New Mexico State Treasurer Laura Montoya: “Trump's tariff threats will suffocate our economy and disrupt our way of life.”

Earlier today, in partnership with Americans for Responsible Growth, four financial officers from southwestern states called on President Donald Trump to permanently end the ongoing tariff crisis and looming trade war with Mexico, Canada, and critical trade partners. Speakers, including several bordering Mexico and as such home to crucial inland ports, discussed the critical role they play in avoiding the repercussions for everyday Americans and local businesses from Trump’s trade wars.

As the end of the 30-day pause on tariffs on Canada and Mexico quickly approaches, and with Trump ramping up threats of new tariffs, the State Treasurers answered questions about the harms to their states, budgets, and to the livelihoods and everyday routines of their constituents if the Trump administration does not permanently end the threat of a foolish trade war with one of our most critical trade partners.

Here’s what the State Treasurers had to say about how Trump’s policies will disproportionately harm those who can least afford it, drive up prices on everyday goods, and risk their states’ economic security:

State Treasurer Fiona Ma, CPA (Calif.):

• “Tariffs will actually hurt our economy. They will increase prices, potentially eliminate jobs, and they will increase inflation. Tariffs equal taxes and taxes equal increased inflation. Therefore, we are here on this call to ask the president to take a strong look at the tariffs—because, ultimately, the consumers cannot risk additional tariffs.”

• “These [tariffs and] executive orders… are creating a lot of instability and uncertainty in the market. It's impacting everything we do, from our budget, to our pension funds, to everyone's daily lives. All the business owners and the retailers who want to be able to sell a certain product, they [may not] know how much the price is. They may not know whether the prices are going to go up in the future. Their margins are very thin. With many of these small business owners, we are really trying to bring them back post-COVID. So, all of this instability creates chaos in the market.

State Treasurer Laura Montoya (N.M.):

• “It's evident that our economy relies heavily on trade with Mexico. Trump's tariff threats will suffocate our economy and disrupt our way of life. Trump is playing games with people's lives, and it's a huge punch in the gut to all of those who have consistently carried this nation on their back.”

• “The consequence of shattering our economic stability is chaos that will prove detrimental to spending, market rate volatility, and overcompensated inflation with long-lasting effects. These tariffs are not just about the import and export of products or about supply and demand or inflation.”

• “The Trump tariff war disregards hard working Americans and immigrants who create small businesses or who tirelessly work back-breaking jobs, day in and day out for minimal pay and sometimes unhealthy working conditions to make this country great, to sustain our way of life, to build our houses, to teach our children, to care for our elderly, to put food on our tables, and to keep this country moving forward. The Trump tariffs on Mexico is a reckless gamble with people's lives, their well being, and their futures.”

State Treasurer Dave Young (Colo.):

• “President Trump's actions have caused chaos and confusion and made [Colorado’s financial future] and mission much more difficult. Left unchecked, his policies will have damaging consequences for Coloradans. During his campaign, President Trump pledged to fix the economy—igniting a needless trade war with Mexico won't fix anything and it will certainly tank it.”

• “Colorado can't afford to tank our relationship with Mexico, one of our most beneficial trading partners. A trade war will result in layoffs, higher prices and decreased activities, undermining Colorado's vibrant economy. I urge my fellow State Treasurers and members of Congress to join us in condemning these actions before they cause real harm to everyday people.”

County Treasurer Sarah Benatar (Coconino County, Ariz.):

• “Arizona is a very important trade partner with Mexico, and Trump’s threat of tariffs on Mexico will drastically affect the entire state, impacting the pocketbooks of our families, our workers, and our businesses.”

• “It's the working class that will feel the burden of inflation the most with rising costs. Since the 1990s, the three nations have had a free trade agreement that is now in jeopardy as it seems the trade war is beginning. Canada and Mexico have already said they would retaliate with their own tariffs on American products. This trade war that Trump is trying to start is pointless. Will have no winners. Will weaken our relationships and trust with our closest allies, and will raise the cost of everyday living… Arizona cannot afford more inflation, and that's exactly what a pointless trade war will bring.”

To book an interview with Americans for Responsible Growth Executive Director Dave Wallack or connect with the press teams for a state treasurer or auditor who joined today’s press call, please email Ryan Thomas at arg@focalpointstrategygroup.com