North Carolina imports nearly $5 billion in goods a year from Canada
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Across-the-board tariffs on some of the U.S.'s most important trade partners — countries that pump billions into North Carolina's economy every year — are now set to take effect next month.
Why it matters: President Trump's sweeping levies could de-link economic ties with top trading partners, and the effect on American consumers and businesses may be profound, Axios' Courtenay Brown reported.
By the numbers: North Carolina exports $7.7 billion in goods annually to Canada, making Canada our state's No. 1 export market, according to the Canadian Consulate General's office in Atlanta.
- The state imports $4.7 billion in goods from Canada — including equipment and machinery, agriculture and forest products.
The latest tariffs, announced over the weekend, would include 25% on goods from Canada and Mexico and 10% on China.
The latest: In separate deals Monday, Trump agreed to a month-long tariff pause with Mexico and Canada. Go deeper for more on the deals.
Context: The White House has said the tariffs are a response to an emergency threat posed by undocumented immigrants and drugs.
- Canadian Prime Minister Justin Trudeau announced retaliatory measures that would put 25% tariffs on more than $100 billion worth of U.S. exports, including beer, food products and appliances.
What they're saying: "[Trump's] talked about how this money could maybe offset some of the tax cuts he wants to push, but the point is that it's essentially U.S. companies that are paying that tariff," NC State economist Mike Walden told WRAL.
Between the lines: NC Chamber President and CEO Gary Salamido told Axios that the group's membership has varying opinions about tariffs but broadly supports fostering innovation among businesses.
- "While tariffs will be disruptive, which even President Trump acknowledged, they are not the only tool. We must extend tax, regulatory, and energy policies that maintain and create jobs to continue to build healthy, strong communities," he said.
Editor's note: We've updated this story with the latest details about the pause on tariffs with Canada.