New tariffs could threaten $276.9 million in Colorado exports — Pork producers face the biggest risk
July 3, 2018
Retaliatory tariffs could put $276.9 million worth of Colorado exports and thousands of jobs in the state at risk, according to a report Monday from the U.S. Chamber of Commerce.
The chamber, normally aligned with the Trump administration on issues like regulation and taxation, launched a website opposed to the federal government's shift in trade policy under the banner "Trade works. Tariffs don't."
"Tariffs imposed by the United States are nothing more than a tax increase on American consumers and businesses," the chamber said in its report. "This is the wrong approach, and it threatens to derail our nation's recent economic resurgence."
Chief among the new U.S. tariffs are a 10 percent charge on imported aluminum and a 25 percent charge on steel the administration argues are necessary for national security and to promote more domestic production.
Those and other tariffs have triggered a strong response from the country's trading partners, who have retaliated with levies of their own.
Read the full story at http://www.denverpost.com.