Trump tariff proclamation reveals weaknesses
Wanting US businesses and workers to thrive are worthy goals. Unfortunately, tariffs are the wrong policy to achieve them.
US SBA regional administrator Tyler Teresa visited Little Richards Barbeque in Winston-Salem to highlight the Trump administration’s Working Family Tax Cuts and their impact on small businesses during the height of filing season.
While 77% of North Carolina's GOP voters believe tariffs help the national economy, just 40% believe tariffs help them personally.
The Tax Foundation predicts that if the Supreme Court rules that the tariffs can remain in place under IEEPA, more price increases can be expected as we head into the holiday season and 2026.
Imminent import tariffs on pharmaceuticals, NC's No. 1 export, announced recently by Trump, cause industry uncertainty.
Canada has been the largest purchaser of NC exports in the world for over a decade. This trend continuing into 2025, with just over $5 billion in NC exports purchased by Canadians YTD.
Uncertainty tariffs has caused business owners to stockpile goods in anticipation of future price increases, causing NC imports to rise 40% year-to-date in 2025.
As inflation rises, Trump threatens high tariffs on some of the biggest suppliers to the US.
Trump originally imposed the 90-day pause on tariffs to give time to negotiate trade deals with various countries, but so far, only deals with the United Kingdom and Vietnam have been brokered.
Across-the-board tariffs and the uncertainty they create undermine that stability, making it harder for state budget writers to project revenues and plan responsibly.
Republicans who side with the president blunt opposition to a policy that raises consumer prices.
Having all of these data points allows us to see the fairly nuanced views of the average NC voters on a subject as complex as tariffs.