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Proposed Trump tariffs could be a double economic whammy for Laredo

A truck near the entrance of the World Trade Bridge in Laredo.
Carlos Jasso
/
Reuters
A truck near the entrance of the World Trade Bridge in Laredo.

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The proposed Trump tariffs would be a double whammy on the economy of Laredo, the biggest port for goods in the Western Hemisphere and just two hours south of San Antonio.

An estimated $340 billion worth of goods cross north and south at the two international bridges in Laredo every year.

Laredo Chamber of Commerce Executive Director Monica Martinez said many Laredoans earn a paycheck in trade-related jobs, like customs brokers, freight handlers, truck drivers, and others.

She said "everybody who makes up our working community" would be impacted. She added that those tariffs on steel and aluminum could curb production and increase the costs of other big-ticket items that cross the border.

"We need those to make vehicles," she explained. "We need those to make tractors and trailers. We're prohibiting the growth of some of our trade partners if they are not able to afford to expand."

And here is the double whammy for Laredoans, outside of the potential trade-related job losses. Like all Americans, they are consumers too, who will pay an estimated $4,000 more per year for goods and up to $10,000 more for a new vehicle, Martinez said.

No vehicle made in the U.S. is totally made of U.S. parts, Martinez added.

President Donald Trump had the import tariff hikes paused for 90 days for all countries on April 8, except for China, while trade talks with those nations take place.

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