Dave Ramsey, the popular personal finance guru, is facing criticism after a recent discussion about tariffs. During a segment of his show, Ramsey tried to explain President Donald Trump’s tariff policies by sharing a personal anecdote. “I’ve got a friend building a house in Cabo,” he said, using the story to argue that Mexico imposes heavy tariffs on U.S. goods.
Ramsey Claims Mexico Charges a 33% Tariff
The video starts out with Ramsey’s co-host, Ken Coleman, explaining that “tariffs will affect us. There’s no question. Even President Trump has said, and I quote, ‘Prices will go up.’” He continued, “There’s no question that that’s how tariffs work even though a tariff is placed on a foreign country. Tariffs are passed on from American companies to American consumers. It’s a long-held economic strategy. Sometimes it works, sometimes it doesn’t.”
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Ramsey then claimed that Mexico slaps a 33% tariff on goods imported from the U.S., suggesting that tariffs are a common practice in international trade. His friend building a house in Cabo supposedly paid tariffs on “some of his appliances and his plumbing fixture shipped in from the States.” However, that’s highly questionable.
It’s possible that Ramsey confused Mexico’s value-added tax with a tariff. Mexico imposes a 16% VAT on most goods, which applies to both businesses and individuals bringing products into the country. Additionally, luxury goods …
