Could the new tariffs cost $ 4.1 billion in Washington? What do we know – Fox 13 Seattle

Seattle – As President Trump has a temporary pause on plans to impose new tariffs on China, Canada and Mexico, economists are beginning to evaluate the potential economic decline in trade interruptions and price increases in the United States.

A new analysis from the trade partnership around the world reveals that Washington State can face stunning $ 4.1 billion economic losses due to these tariffs.

Dan Anthony, the president of the non -party group, who has committed the analysis, says that the multimigated blow is not a fall in the bucket.

By the numbers:

“There is a lot of freezing from the business point of view,” Anthony said. “There are warehouses on the border that deliver both sides. You do not need so many storage workers if the trade contracts are significantly.”

Synthesizing Numbers from the Us Census, National Data on Tariffs and State Figures on Imports, Anthony Has Concluded Tariffs on Canadian Products Alone Cost The State $ 2.7 Billion Illion, and Those Targeting China Would Amount To $ 1.08 Billion S The impact will be felt in numerous industries, including agriculture, energy and production. According to Anthony, Washington Imports from China contributes to a billion dollar forecast.

“This is an industry that has been effectively confronted with zero rates for a very long time,” Anthony noted.

Senator Maria Cantuel claims that the agricultural sector, a key part of Washington’s economy, is particularly vulnerable. Canada is the largest agricultural export of Washington, buying goods worth $ 1.3 billion in 2023. Meanwhile, Mexico is ranked fourth in $ 687 million. Everything from apples to frozen fried potatoes could see the pulsation effect with an increase in prices.

What they say:

“Many fertilizer products come from Canada and this is an area where you will see that the prices of entrance farmers are rising,” Anthony said.

The state also imports large quantities of raw oil and natural gas from Canada, which are used for heating homes and energy production.

“These are the products that Washington state really only imports from Canada at least on the country of natural gas,” Anthony said. “Washington households are the ones who need it. Canadians are the only ones who deliver it and there really is nowhere to move.”

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