Tuesday, July 10, 2018

U.S. Chamber of Commerce report projects tariffs' effects on Idaho exports

Over the years, the State of Idaho has spent millions of dollars cultivating exports of everything from dehydrated potatoes to pumice to computer chips. In the midst of projecting what the effects of the emerging trade war might be, here comes the U.S. Chamber of Commerce with a state-by-state breakdown.

The article’s headline, “Trade Works. Tariffs Don’t” sums up the view of the chamber (which I might add is hardly a hotbed of liberalism).

Canada has targeted $104 million for higher tariffs, including preparations for perfuming and deodorizing rooms ($19 million), fungicides ($16 million) and sauces, mixed condiments and seasonings ($15 million).

Mexico has targeted $36 million in Idaho products, including potatoes ($15 million exported annually), cheese ($14 million) and iron and steel ($2.7 million).

China has targeted $42 million in Idaho exports, including whey and modified whey ($36 million), dried and shelled peas ($3.8 million) and “products of natural milk constituents” ($2.2 million).

Europe has targeted dried kidney beans and white pea beans ($8.2 million), cold rolled tubes and pipes ($192,000), and iron or steel tanks over 300 liter capacity ($131,000).

Overall, the chamber report estimates 202,200 Idaho jobs are supported by trade, and that new tariffs threaten $190,732,525 in exports. We might also consider that farm equipment is going to be a lot more expensive, since the price of steel has risen 40 percent since January. And the bond your city passed to build that new school? The bids from contractors are likely to come in a lot higher now.

For a more detailed breakdown, follow this link: https://www.uschamber.com/sites/default/files/tariff_data/one_pagers/id.pdf

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