Boom! Yet another high profile, billionaire businessman has come out against Trump’s provacative proposal to slap a 20% tax on Mexican imports to “Pay for the Wall.” John Paul DeJoria, founder of Patron and Paul Mitchell, slammed Trump for his absurd proposal and set the record straight as to who exactly would end up paying the massive price tag.
Despite Mr. DeJoria’s acute business acumen, we suspect there is also another reason that he is so publicly critical of Trump.
According to Wikipedia:
John Paul Jones DeJoria is a Greek-Italian-American billionaire businessman and philanthropist best known as a co-founder of the Paul Mitchell line of hair products and The Patrón Spirits Company.
That’s right folks, DeJoria is one of those success stories of American immigration! You know, the ones Trump conveniently forgets to mention as he perpetually lambasts immigration. DeJoria’s father was an Italian immigrant and his mother was a Greek immigrant.
As DeJoria puts it, Trump and his advisors proposing a 20% import tax on Mexican goods might want to “Think that one through a bit” as the knock on effects will be deleterious for U.S. consumers. Companies doing business in America will be forced to pass on the cost of the tax onto consumers, who will pay more for everyday expenses such as groceries and gasoline.
That’s right, the price at the pump will likely go up as well due to the fact that Mexico is the fourth largest supplier of oil to the United States. Not only that, but the massively complex web of businesses operating in both the U.S. and Mexico will mean complete and utter chaos from an economic perspective. No one wins when neighbors fight a trade war!
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