Democratic U.S. Senator Ben Ray Luj谩n hosted a roundtable discussion Tuesday in Albuquerque with business leaders on President Trump鈥檚 implementation of tariffs and their impacts, and the prevailing theme was uncertainty.
President and CEO of the Black Chamber of Commerce of New Mexico Carla Causey talked about a man who owns a pilot school in New Mexico and Puerto Rico.
鈥淗e has major, major concerns, because the parts that he needs to be manufactured are not manufactured in the United States,鈥� Causey said. 鈥淪o he's wondering what is going to happen to his total businesses in both places.鈥�
But Executive Director of the New Mexico Border Authority Gerardo Fierro said that tariffs are hitting different industries in different ways. He spoke to a sofa manufacturer across the border in Ju谩rez who was competing against Vietnam and China.
鈥淪o now the tariffs mean business for him. So there's also room for opportunity with this,鈥� he said.
Jerry Pacheco leads the Border Industrial Association and says the Santa Teresa area is the most vulnerable in the state to the tariff impacts.
鈥淚n 2024 New Mexico's exports to the world went up 140%, our trade with Mexico went up 101%. The Santa Teresa industrial base is now accounting for 69% of New Mexico's total exports to the world,鈥� Pacheco said.
He added that some companies have already scrapped plans to expand because of the uncertainty.
Senator Luj谩n said his office wants to help business owners grappling with these issues.
鈥淚'm willing to work with anyone when it comes to making a difference here at home, Democrat, Republican, whatever your political party may be, or your belief system when it comes to doing something positive,鈥� he said. 鈥淏ut if you're going to do something's going to hurt our state, game on. We're going to stand up together.鈥�
Luj谩n added the tariffs will also hurt everyday Americans. The tariffs would cost each household up to $3,800 annually.
