July 12, 2018

VIDEO: Udall Speaks Out Against Trump Trade War: ‘You’re Going to Put Companies Out of Business in New Mexico’

In Foreign Relations Committee hearing, Udall tells administration that Trump’s tariffs threaten economic growth in NM

VIDEO: https://www.youtube.com/watch?v=fYcZNw6-mTs&feature=youtu.be

WASHINGTON – Today, in a hearing of the Senate Foreign Relations Committee, U.S. Senator Tom Udall (D-N.M.) told a Trump administration official that President Trump’s incitement and escalation of an unnecessary trade war with our allies threatens to put companies out of business in New Mexico. Udall said that the president’s decision to place national security tariffs on steel and aluminum imports – including from allies like Canada, Mexico, and the European Union – and the resulting retaliatory tariffs placed on U.S. goods will have dire effects on several industries in New Mexico.

Udall cited the example of a New Mexico company, Southwest Steel Coil, Inc., which is being threatened by the president’s trade war and the Trump administration’s chaotic and destructive approach to NAFTA and trade with Mexico. “Here's a specific example of what’s happening with trade in New Mexico, and how [Trump’s trade policies are] hurting New Mexico,” Udall said. “There’s a company called Southwest Steel Coil -- almost all of the exports are finished products from the United States, [from] U.S. workers, then down to Mexico. The response to the U.S. actions will be devastating to businesses like this that rely on a production process that moves back and forth across the border. Companies will be forced out of business if they are required to pay a new tariff every step of the way. You’re going to put companies out of business in New Mexico with these tariffs.”

Udall toured Southwest Steel Coil last year and held a discussion with business and community leaders along the southern border. During his tour, Udall heard from business leaders about how a climate of uncertainty and backward trade policies from the Trump administration have held back economic expansion in the region. In February of this year, Udall met with the Border Industrial Association to discuss New Mexico's important trade relationship with Mexico and the ongoing negotiations over NAFTA. Udall has consistently called on the administration to consider the impacts its trade policies are having on border economies and to ensure the voices of New Mexico’s workers, small businesses and employers are heard in Washington.