Retaliatory tariffs target $266 million in Arizona exports, chamber says
PHOENIX — More than a quarter of a billion dollars worth of Arizona exports will be subject to retaliatory tariffs imposed by U.S. trading partners, according to the world’s largest business organization.
The U.S. Chamber of Commerce released a study showing the impact on each state of tariffs imposed on U.S. exports in response to President Donald Trump’s tariffs on steel and aluminium imports.
“In terms of the retaliatory tariffs that are coming up from China, Mexico, Canada and the European Union this week, at least $266 million worth of Arizona exports are in the crosshair,” Glenn Hamer, president and CEO of the Arizona Chamber of Commerce and Industry, told KTAR News 92.3 FM on Tuesday.
According to the U.S. chamber study, Arizona exports worth $155 million to Mexico, $54 million to China, $51 million to Canada and $6.5 million to Europe are targeted by the retalilatory tariffs.
That’s on top of the impact already being felt because of the steel and aluminum tariffs. Steel or aluminum isn’t produced in Arizona, but many state businesses use those materials in manufacturing goods.
“For all those companies, their prices have shot up pretty considerably in the last several months,” Hamer said.
Hamer said the trade wars will hit the tourism industry, too.
“When you’re attacking via tariff your closest trading partners, it’s going to, over time, have a chilling effect their desire to travel to your country,” he said.
Trump’s tariffs didn’t make sense while the nation’s economy was performing so well, Hamer said.
“Why we would go down this road of a trade war which could only lead to economic problems is beyond me,” he said.
According to the study, 772,800 jobs in Arizona are supported by global trade.
“We need to have a more strategic, coherent trading policy that lowers tariffs, taxes and regulatory barriers, and the United States will benefit and our economic expansion will accelerate,” Hamer said.
“That’s what we want to see happen.”
KTAR News 92.3 FM’s Jim Cross contributed to this report.