Attorney General Bonta, Business Leaders Engage in Roundtable Discussion Addressing the Impact of Tariffs on California Industries

SAN FRANCISCO — California Attorney General Rob Bonta today hosted business leaders on the front lines of the tariff war for a roundtable conversation to discuss the impacts of tariffs on industries across California. The roundtable in San Francisco comes on the heels of California filing a lawsuit against the Trump Administration for its imposition of illegal and chaotic tariffs, and included leaders with a birds-eye view of industries spanning workforce development, global trade, transportation, housing development, and local economies and small businesses. President Trump’s erratic tariffs are wreaking havoc on the U.S. financial system and causing uniquely immense harm to California’s economy, which as the fourth largest economy in the world, remains a major driver of our national economy. 

The tariffs challenged under California’s current lawsuit are projected to shrink the U.S. economy by $178 billion, cost California consumers $25 billion, and result in the loss of over 64,000 jobs throughout California.  

“The Trump Administration’s chaotic tariffs have sent shockwaves through financial markets, businesses, and consumers in every corner of the globe — and especially here in California, home to the fourth largest economy in the world,” said Attorney General Rob Bonta. “Today, I heard from leaders on the front lines concerned about the disastrous impact of tariffs on their industries and businesses. These folks are the bellwethers for our state and have sounded the alarm — I thank them deeply for their time and candor. California will continue to fight on all fronts to end President Trump's illegal tariffs and restore certainty and vibrancy to our economy.” 

"Dramatic shifts in trade policy and increases in tariff costs can cause disruptions which threaten millions of jobs and billions of dollars in local, state and federal tax revenue," said Jennifer Cohen, Vice President of Government Relations for the Pacific Merchant Shipping Association. "It is critical that we avoid volatility and uncertainty in the marketplace that impedes American access to essential goods, components used in US manufacturing, and export markets for agriculture. The importance of maintaining the integrity of the ports and maritime supply chains on the US West Coast that undergird our international commercial relationships are vital to all Americans, not just Californians."

"Uncertainty is never a good thing for businesses of any size, especially those with limited resources who cannot ride out wild fluctuations — particularly in the pricing and availability of goods and services. Small businesses are the heart of our local economies and communities, and operate on razor thin margins. When you combine higher operational costs with the fact that consumers are pulling back on purchases as prices rise, the result is devastating,” said Peter Katz, Co-Chair Silicon Valley Chamber Coalition. “Already, a significant number of family owned restaurants and merchants have seen increased expenses in essential supplies, from food costs to packaging to raw materials. These businesses do not have the luxury of waiting months — or years — for things to normalize."  

Attorney General Bonta is committed to challenging the illegal tariffs that threaten California jobs, businesses, and consumers. On April 16, Attorney General Bonta and Governor Newsom filed a lawsuit challenging President Trump’s unlawful use of power to impose tariffs and direct agencies within the administration to implement and enforce those tariffs without the consent of Congress. Last week, California filed a motion for a preliminary injunction with the U.S. District Court for the Northern District of California to stop the Trump Administration’s illegal tariffs while litigation in their case proceeds and filed an amicus brief in the Court of International Trade in Oregon v. Trump, another case also challenging President Trump’s illegal imposition of tariffs. 

More information about the lawsuit can be found here.