Recently-implemented tariffs will impact Grant County commerce

Tariffs on imported goods from other countries are not something that is new to American businesses and consumers. 

“When we put tariffs on imported goods, the costs of these tariffs are embedded in the price of what we buy in very complicated ways,” Economist Alex Russell said. 

The new policy that President Trump is implementing is going to increase Chinese imports to 20%, 25% on most Canadian and Mexican goods, as well as a 25% global tariff on steel and aluminum products. 

Many local businesses are heavily affected by this including car dealerships and jewelry stores. 

“It’s all a little unsettling. Importers from China will have to decide how much of the added 10% they’ll have to pass on. If you import from Canada and Mexico, you probably won’t have a choice but to add the extra costs. It will definitely make jewelry more expensive.… It feels like a big mess,” Lillian Harsha, an employee at Kay Jewelers, said. 

With the new tariffs, there are major risks that the citizens are going to have to face which can result in a reduction of jobs, higher prices for electricity and a significant increase of purchasing cars. 

“It’s reasonable to expect that vehicle prices will rise, which presents an added challenge to an industry that is already grappling with ongoing affordability concerns,” Mark Mcknee, an employee at M&H Auto, said. 

These tariffs will have a negative impact on the everyday consumer, especially those who rely on imported goods. With an average income of 29,000 in the Grant County area, this will likely put a strain on household budgets.