Tariffs would have a $1 billion impact on Oregon
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Oregon businesses could feel a $1.3 billion squeeze if President Trump's proposed tariffs are implemented, according to a new estimate shared with Axios.
Why it matters: Tariffs can be used as political cudgels for extracting concessions from targeted countries. But they're also likely to make stuff more expensive for consumers.
Catch up quick: Trump on Saturday imposed tariffs of 25% on Mexican and Canadian goods and 10% on Canadian energy imports, and he issued new 10% tariffs on Chinese imports.
- Yes, but: The U.S. struck deals with Canada and Mexico earlier this week to delay tariffs for a month.
- The tariffs against China took effect Tuesday.
Driving the news: As originally issued Saturday, Trump's proposed tariffs would have an estimated $232.7 billion national impact, per economic research firm Trade Partnership Worldwide and based on trade from January to November 2024.
Zoom in: Canada is Oregon's largest import partner, followed by South Korea and China.
- That means Oregonians could see higher prices for things like maple syrup, car parts and lumber, as well as electronics, including TVs and smartphones, in the future.