There is great fear about the impending trade tariffs set to go into effect Monday on all Mexican imports … and for good reason.
But Florida is unlikely to feel the pain of the new trade tax like other states that are more dependent on manufacturing and goods from Mexico.
China, not Mexico, is Florida’s top source of imports.
Tourism, health care, and construction are more pivotal to Florida’s economy than manufacturing. And Florida agriculture, which has suffered from recent US-Mexico trade relations, might actually benefit from the tariffs.
That said, a new tax on goods from Mexico is unlikely to help most Floridians, as there is nothing the state can do to insulate itself from a hit to Wall Street or the national economy.
The 5 percent tariff is set to go into effect Monday, climbing by another 5 percent at the start of each new month, until it reaches a cap of 25 percent, or Donald Trump decides to relax the penalty.