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If California undid its 'original sin' and matched Texas on taxing property, it would raise more revenue than the billionaire tax, economists say

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FinanceU.S.-Mexico Border Wall

Trump’s 20% Mexico Import Tax Will Affect Your Dinner

By Fortune Video
January 27, 2017, 1:04 PM ET
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President Donald Trump has suggested a 20% tax on goods imported from Mexico. It is expected to increase the prices of cars, clothes, food and drinks.

The U.S. imported $21 billion of food and drinks from Mexico in 2015, according to U.S. Department of Agriculture. Here is a breakdown of how much we spend on different items.

  • Fresh vegetables: $4.84 billion on vegetables such as tomatoes, chili peppers, and onions
  • Fresh fruit: $4.28 billion on raspberries, strawberries, avocados, and other fruits
  • Wine and beer: $2.7 billion of alcoholic beverages including Corona
  • Snack foods: $1.72 billion

The new tariff is proposed to pay for building the U.S.-Mexico border, which Mexico’s president has refuted many times over.


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