Trump’s Tariffs Have Cost New Mexico $344 million….So Far

That’s $402 per New Mexican household that Gregg Hull will rubber-stamp if elected governor

ALBUQUERQUE - Last week, the National Taxpayers Union Foundation released its latest data on how hard states have been hit by President Trump’s tariffs, with New Mexico losing $344 million since January 2025.

The report, calculated through June 2026, also revealed that Trump’s tariffs have cost each New Mexican household, on average, $402 — money that could’ve been spent on groceries, healthcare, energy bills, or back-to-school supplies. Additionally, with a healthcare affordability crisis already wreaking havoc in rural and urban areas alike in New Mexico, our medical equipment and supplies industry took the biggest hit, paying $40 million in additional tariffs.

What’s worse? Gregg Hull and David Gallegos, two men who supposedly want to lead New Mexico, have stayed mum on the issue, unwilling to break with the President and his MAGA donors. When so many families across New Mexico are struggling to make ends meet, this is only the latest example of how Hull and Gallegos are wrong for our state. 

“A tariff is a tax, and Trump’s taxes have hurt New Mexico’s economy,” said Democratic Party of New Mexico spokeswoman Mila Myles. “Yet Gregg Hull and David Gallegos have been silent about Trump’s asinine policies and the families he has hurt. They are ready to rubber-stamp anything Trump and his donors want, even if they harm New Mexico industries and New Mexico families in the process. A vote for Gregg Hull is a vote for higher taxes.”

Meanwhile, Democratic gubernatorial candidate Deb Haaland has released a comprehensive affordability agenda to lower costs and make life easier for all New Mexicans. From raising the minimum wage and lowering healthcare costs to reducing red tape for small businesses and building more housing, Haaland is focused on making life easier and more affordable for every New Mexican.