Count the co-founder of Patron tequila among American business leaders who are wary of President Trump’s proposed tax on Mexican imports.
John Paul DeJoria (also the cofounder of the Paul Mitchell hair products/salon brand) is urging against President Trump’s proposed 20% tax of Mexican imports. Patron tequila is produced in Mexico.
“If [the tax] comes to effect, unfortunately with all due respect, the Mexican government doesn’t pay for it, the US consumer does,” DeJoria said during a CNN interview last Friday. “If the tax comes across, we have to raise our prices . . . So it’s passed on to our distributors, onto the retailer, which will pass it on to the consumer.”
While the cost of Patron will go up by only a couple of dollars per bottle, he said that the price increases would affect much more than just tequila. “You’re going to be paying more for vegetables, you’re going to be paying more for gas and oil that comes from Mexico.”
“Mr. Trump is a smart fellow, and I think Mr. Trump wants to do what’s right,” DeJoria continued, “but I do think they have to think this out a little bit more.”