Page 20 - The South China Business Journal
P. 20
C. Today
The
Historic
Tariff
Increase
in
Inside the U.S. One The U.S. economy has been performing
Custom House Chart particularly well since President Trump
took office. The administration’s policies,
in Portland, Article by Brian Higginbotham, Senior Economist, most notably regulatory reform and tax
ME. (Photo U.S. Chamber of Commerce reform, deserve considerable credit for this
from Library of improvement. However, the recent actions
on tariffs – and the responses by our trading
Congress) partners – threaten these gains.
Major exporters stand to lose from coast to
coast. A recent U.S. Chamber analysis found
that in my home state of California about $5.6
billion in exports are at risk due to the already
implemented retaliatory tariffs, including more
than $1.4 billion in exports of electric vehicles,
one of America’s nascent growth industries.
In Washington State, more than $6.2 billion of
exports are threatened by the emerging trade
war; Louisiana, which is a gateway for a huge
quantity of American agricultural exports,
stands to lose about $5.9 billion.
To put the impact of these tariffs in a fiscal
context, it is worth understanding how these
18 AmCham South China
The
Historic
Tariff
Increase
in
Inside the U.S. One The U.S. economy has been performing
Custom House Chart particularly well since President Trump
took office. The administration’s policies,
in Portland, Article by Brian Higginbotham, Senior Economist, most notably regulatory reform and tax
ME. (Photo U.S. Chamber of Commerce reform, deserve considerable credit for this
from Library of improvement. However, the recent actions
on tariffs – and the responses by our trading
Congress) partners – threaten these gains.
Major exporters stand to lose from coast to
coast. A recent U.S. Chamber analysis found
that in my home state of California about $5.6
billion in exports are at risk due to the already
implemented retaliatory tariffs, including more
than $1.4 billion in exports of electric vehicles,
one of America’s nascent growth industries.
In Washington State, more than $6.2 billion of
exports are threatened by the emerging trade
war; Louisiana, which is a gateway for a huge
quantity of American agricultural exports,
stands to lose about $5.9 billion.
To put the impact of these tariffs in a fiscal
context, it is worth understanding how these
18 AmCham South China
