Mexico is one of Colorado’s biggest trade partners
DENVER - While President Trump’s tariffs barrels the U.S. toward a recession and raises costs on hardworking Coloradans, Colorado Governor Jared Polis seeks to strengthen economic prosperity with Mexico and Canada, Colorado’s largest trading partners, and has been outspoken against the national tariffs and about the important partnerships that Colorado has with both countries. That’s why Governor Polis today hosted Colorado-Mexico Friendship Day alongside Mexican Consul General Pavel Meléndez Cruz. This comes after the Governor hosted Colorado Canada Friendship Day in March alongside Sylvain Fabi, Consul General of Canada in Denver.
“Trump’s tariff tax increase is raising costs on hardworking people, businesses, housing, agriculture, manufacturing, and creating uncertainty for businesses. I hope our state and country do not fall into a recession because of the economic uncertainty caused by these reckless tariffs. In Colorado, we are doing everything we can to help ensure our economy, jobs, and our future are not destroyed by President Trump’s tariff tax. Republicans and Democrats in Congress can and must stop these federal tariffs,” said Governor Polis. “Colorado-Mexico Friendship Day is a great opportunity for businesses and Coloradans to celebrate the strong trade partnerships with our allies.”
Mexico and Canada are significant economic partners for Colorado, representing 38.5% and 31% of the state's imports and exports in 2024. Mexico was the top export destination for Colorado goods, valued at $1.7 billion, or 17% of total exports, followed by Canada at $1.6 billion. Combined, the two countries also account for 46% of Colorado's international visitation, with Mexico leading at over 250,000 visitors, followed by Canada at 183,000 visitors. The economic impact of international travel from these two countries in 2024 was over $265 million.
The President’s tariff tax has created uncertainty for Colorado’s thriving industries, from agriculture to manufacturing and small businesses. People in Colorado are deeply concerned about how the President’s tariff tax will increase the costs of everyday life, from gas to groceries. Much of the fruit sold in Colorado grocery stores is imported from Mexico and could see a price spike.
Governor Polis has taken strong steps to support Colorado’s farmers and ranchers accessing new markets across the world. For instance, Governor Polis helped open exports into Mexico for Colorado’s potato growers. The Trump tariffs could threaten the livelihoods of our farmers in places like the San Luis Valley if Mexico imposes retaliatory tariffs. We have already seen damaging retaliatory tariffs put in place that hit other commodities as well as agricultural equipment. This is another way the Trump tariffs will continue raising the costs of doing business for our nation’s farmers and ranchers.
“Recently announced widespread tariffs will harm agriculture. History tells us that farmers and ranchers will bear the burden because they rely on imports on inputs and retaliatory tariffs by other countries will lower commodity prices. Higher input costs and lower market prices are going to cause the loss of more family farms and ranches, which will further hurt our rural communities and our country. We call on the administration to use a more thoughtful and less widespread approach to trade policy,” said Chad Franke, Farmer and President of the Rocky Mountain Farmers Union.
“The tariffs will increase expenses and cut revenues for America's agricultural producers. The most vulnerable producers are the younger folks, who already face a huge challenge in gaining a foothold in this industry. We have already been losing producers and rural businesses for many years. I believe if the administration continues to institute these policies this will lead to the need for them to institute a massive government bail-out program to mitigate the economic damage they are inflicting on the agricultural community and rural America. The average American consumer will also feel the pain of these tariffs through their continually increasing grocery bill,” said Kent Peppler, Former Colorado State Director for the Farm Services Agency and former President of Rocky Mountain Farmers Union.
Colorado is 5th in the nation for beef exports. Beef is among Colorado’s largest exports and is a top driver of Colorado’s agricultural economy. In 2024, the U.S. exported a total of $10.45 billion in beef and beef products around the world. Colorado’s top export countries for beef are Mexico, Canada, South Korea, Japan, China, all countries now facing Trump’s on-again off-again tariffs. Colorado’s other largest agricultural commodities, including dairy, wheat, and corn, all rely on export markets to do business.
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.
An estimated 820,200 jobs in Colorado are supported by international trade, representing 20.8% of all jobs in the state.
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