Last Friday President Trump startled financial markets by announcing he’ll impose across the board tariffs on Mexico beginning on June 10th, unless Mexico does more to curb illegal immigration. The tariffs will start at 5%, rising to as high as 25% unless Mexico stops the flow of migrants into the U.S.
Economic analyst Hank Fishkind, of Fishkind and Associates, talks to 90.7's Matthew Peddie about the impact of the tariffs on Florida's economy.
“Florida’s economy is closely tied to the US economy. The trajectory of our gross state product is just highly correllated... so if the national economy continues to slow, or even drops into a recession, this would cause a sharp slowing in Florida's economy at best," says Fishkind.
"Even if President Trump's strategy gives way to better relations with our trading partners, the tariffs, it's going to take time for them to be rolled back, and they are going to affect corporate supply chains, and they already weigh on profits," says Fishkind.
Click on the Play Audio button to hear the conversation