Billionaires, Industry Leaders Urge Trump: Reconsider 'Devastating' Tariffs on Canada, Mexico

In an unprecedented show of unity, a coalition of billionaires, industry leaders, and executives have penned an open letter to President Trump, urging him to reconsider the implementation of 'devastating' tariffs on Canada and Mexico. The letter, signed by 43 House Democrats, including House Foreign Affairs Committee Ranking Member Gregory Meeks and Reps. Jake Auchincloss, Nanette Barragán, and André Carson, among others, warns that these tariffs will have severe consequences for American consumers, businesses, and diplomatic relations.

The letter, dated February 3, 2025, argues that the proposed 25% tariffs on Mexican and Canadian imports, plus a 10% tariff on energy from Canada, will significantly increase prices for American consumers on a wide range of goods, including food, gasoline, and cars. The signatories warn that these tariffs will kill jobs, hurt diplomatic relationships with the closest partners, and devastate Americans already struggling with high prices.