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KQED's Forum
How Could Tariffs Affect California?
Dec 5, 2024
Ana Swanson, a trade and economics reporter for The New York Times, Edward Alden from the Council on Foreign Relations, and Don Lee from the Los Angeles Times delve into the potential fallout of proposed tariffs on California's economy. They discuss how tariffs could inflate prices on goods like cars and avocados. The conversation highlights the vulnerability of key industries and the possible economic ripple effects, including shifts in sourcing and manufacturing. Their insights reveal the complex web of trade relations and the daunting challenges for consumers and businesses alike.
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Quick takeaways
- Proposed tariffs by President-elect Trump could significantly increase consumer prices for cars, lumber, and avocados in California due to heavy reliance on imports.
- Economic experts warn that the tariffs may disrupt supply chains and provoke retaliatory measures from trade partners, adversely affecting U.S. exporters.
Deep dives
Impact of Proposed Tariffs on California
Proposed tariffs by President-elect Trump, particularly a 25% tariff on imports from Canada and Mexico, could significantly impact California due to its reliance on trade with these nations. Being the largest trading partner for California, Mexico accounts for a substantial percentage of imports, especially in industries like agriculture and manufacturing. Increased tariffs could lead to price hikes for consumers, with past research indicating that similar tariffs resulted in costs being passed down to American buyers. Additionally, the uncertainty surrounding these tariffs could disrupt supply chains, affecting businesses' operations and decision-making processes.
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Discover
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