California's Attorney General Rob Bonta has taken a proactive approach by engaging business leaders in a Los Angeles discussion to parse through the toll that former President Trump's tariffs are taking on their industries. According to a release on the California Attorney General's official website, the roundtable centered on the effects of tariffs imposed under Trump’s administration, which have been described as illegal and chaotic.
The conversation comes on the heels of California's lawsuit against the past administration over what's been argued as an illegitimate use of the International Emergency Economic Powers Act of 1977 (IEEPA) to set tariffs in motion. This legal action contests not only their legitimacy but also their economic impact, which purportedly could slash the U.S. economy by $178 billion, cost Californian consumers $25 billion, and lead to over 64,000 job losses across the state. "President Trump’s destructive and unpredictable tariff regime has sent shockwaves through financial markets, businesses, and consumers in every corner of the globe — and especially here in California," Bonta told the Attorney General's Office.
Voicing the concerns of harbor businesses, Henry Rogers, Executive Director of the Harbor Association of Industry & Commerce, pointed to the damaging lack of predictability these policies have injected into global trade. "The erratic tariff policies have created unprecedented uncertainty for harbor businesses, making it impossible to plan shipments or investments," Rogers stated to the AG's Office. The unpredictability hampers industries that depend on efficient international commerce to bolster the state's economy and sustain jobs.
Furthermore, the consequences of these tariffs ripple out beyond the ports and docks of California. Nella McOsker, President & CEO of the Central City Association, highlighted the strain these increases place on LA's essential economic drivers, including the construction, manufacturing, and retail sectors. In her conversation with the Attorney General, McOsker emphasized how these compounding federal actions are disrupting the local workforce and economic growth, "Combined with immigration raids that terrorize small businesses, their employees, and potential patrons—especially in Downtown LA—these federal actions are unnecessarily destabilizing our workforce, hindering economic growth, and jeopardizing the well-being of our communities," McOsker expressed her concerns.
