Colorado: Governor Polis: Court Rejection of Trump Tariff Tax is A Win for Americans

Trending...
DENVER - Today, a court struck down President Trump's tariffs that raised the cost for Americans on everyday goods. Colorado helped lead a lawsuit against this tariff tax. Governor Polis has been outspoken about the negative impacts these tariffs have on the American people and applauded the court for their decision today.

"This is great news for our economy and every American family. I am grateful that this court decision striking down many tariffs checks the sweeping presidential power that the President has attempted to impose on the American people and businesses. The President's tariff tax on groceries and everyday items is bad for hardworking people, our economy and business certainty. Unfortunately, President Trump has already caused a lot of damage with his tariff tax and the uncertainty they've caused for business and our economy, effectively freezing investment, but I am thrilled with the court's decision and encourage the President to strengthen trade with our allies and decreases taxes and barriers for imports and exports," said Governor Polis.

More on Colorado Desk
In addition to raising prices, reports show that tariffs lead to increases in fraud and crime.

In 2024, Colorado exported a record $10.5 billion of goods to the world and imported $16.8 B in goods. Colorado's top export partners are Mexico ($1.7B), Canada ($1.6B), China ($0.8B) South Korea ($0.6B), and Malaysia ($0.6 B), accounting for half of all Colorado exports in 2024. Top export commodities include meat (17%); nuclear reactors, boilers, machinery (15%); electric machinery (13%); optic, photo, medical or surgical instruments (11%); and aircraft, spacecraft, and related parts (5%). In 2022, exports from Colorado supported an estimated 40 thousand jobs.

Colorado in 2024 exported $500 million in aerospace, spacecraft, and related parts, accounting for roughly 4.8% of all Colorado exports. The European Union, Brazil, France, Canada and Mexico were the top five export destinations, accounting for 63% of Colorado's aerospace exports. In 2024, Colorado imported $1 billion of aerospace, spacecraft and related parts, accounting for roughly 6.2% of all Colorado imports. Switzerland, the EU, Germany, Canada, and France were the top five import sources, accounting for over 90% of Colorado's aerospace imports.

More on Colorado Desk
An estimated 820,200 jobs in Colorado are supported by international trade, representing 20.8% of all jobs in the state. Colorado's top import partners are Canada ($5.4 B), China ($1.8 B), Mexico ($1.1 B), Switzerland ($0.9 B) and Germany ($0.9 B), accounting for 60% of imports in 2024. Top import commodities include oil, mineral fuel (20%); electric machinery (14%); nuclear reactors, boilers, machinery (11%); optic, photo, medical or surgical instruments (8%); and aircraft, spacecraft and related parts (6%).

In addition to the commodities traded, Colorado also trades services and runs a services trade surplus. In 2022, Colorado exported $16 B in services, supporting 97,260 jobs. Top services export markets were Canada ($1.3 B), the United Kingdom ($0.9 B), Mexico ($0.9 B), and China ($0.6 B). As a bloc, the EU was the top services export market with $3.8 B in services exports supporting over 18,900 jobs.

Filed Under: Government, State
Show All News | Report Violation

0 Comments

Latest on Colorado Desk