L.A. Area Chamber Releases Statement on Tariffs

by L.A. Area Chamber

LOS ANGELES, CA – March, 12 2024 – The Los Angeles Area Chamber of Commerce issued the following statement in response to the announced tariffs on Canada, China, and Mexico:

“American families and businesses are already grappling with high costs, and tariffs will only make matters worse,” said Maria S. Salinas, president & CEO of the Los Angeles Area Chamber of Commerce. “We urge policymakers to reconsider, seek alternatives and reverse course.”

Tariffs impact on businesses:

• Straining Trade Relations: Mexico and the U.S. are top trading partners across key industries.
• Rising Costs: Manufacturing and retail sectors will bear the brunt, increasing prices for businesses and consumers.
• Economic Slowdown: Tariffs will negatively impact Gross Domestic Product (GDP) across affected economies.
• Infrastructure Delays and Increased Costs: As L.A. prepares for major global events, these tariffs could hinder recovery efforts and slow critical projects.

 The Chamber remains committed to supporting policies which promote economic growth, job creation and stability for businesses of all sizes.

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About Los Angeles Area Chamber of Commerce

The Los Angeles Area Chamber of Commerce represents the interests of a broad spectrum of organizations across the private, non-profit, academic, and public sectors, including the business community, job creators, and innovators in the Los Angeles region. Our mission is to design and advance opportunities and solutions for a thriving regional economy that is inclusive and globally competitive. As the oldest and largest business association in the region, the Chamber has a long-standing history of convening business leaders, communities, and policy makers to promote a vibrant economy. For more information, visit www.lachamber.com.