Trump’s Tariff Hike Threatens Everyday Costs for New Yorkers
Table of Contents
- 1. Trump’s Tariff Hike Threatens Everyday Costs for New Yorkers
- 2. Who Pays the Higher Prices? The Importer, than You
- 3. Trump’s Tariff Threat: A Recipe for Higher Prices
- 4.
- 5. What specific industries in New York are most vulnerable to job losses due to retaliatory tariffs?
- 6. Senate Spotlight: Gillibrand on Tariffs and New York’s Economy
- 7. Guacamole on Hold? Gillibrand on the Everyday Impact of Tariffs
- 8. Beyond the Super Bowl: Housing, Jobs, and Retaliatory Strikes
- 9. Looking Ahead: A Plea for Compromise in Trade Negotiations
President Trump’s latest move to boost the American economy through tariffs is causing friction and concern, especially in New York. To fulfill a campaign promise, he imposed a 25% tariff on imported goods from Canada and Mexico and a 10% increase on Chinese imports on February 1st via executive order. He justifies this move as crucial for bolstering border security and curbing the illegal importation of fentanyl.
“Will there be some pain? Yes, maybe (and maybe not!),” Trump stated on February 2nd in a post on his social media platform Truth. “But we will make America grate again, and it will all be worth the price that must be paid. We are a country that is now being run with common sense — and the results will be stunning!”
However, Canada and Mexico retaliated with their own tariffs on American exports, perhaps escalating the situation. Adding to the complexity,Canada has specifically targeted several states,including Kentucky,Tennessee,and Florida,with increased tariffs on goods like peanut butter,bourbon,and orange juice. These retaliatory measures are raising eyebrows as they specifically target areas that supported trump’s re-election campaign in 2024.
New York residents, despite the geographically distant nature of the conflict, will feel the brunt of these increases on many everyday items, warns Senator Kirsten Gillibrand. Describing the situation as “a hot mess,” she emphasizes the impact on New York’s farmers. “We want to be self-sufficient. We want to make sure our farmers can produce their farm the food they produce and sell to America,” Gillibrand stated during a February 2nd press conference. “But most of our farmers in New York and around the country export a lot of their food, even to China. so when you put a tariff up, it means they won’t be able to export the goods they are growing at all, and they’re blocked.”
Queens Representative Gregory Meeks, a member of the House Foreign Relations Committee, expressed similar concerns, calling the tariff increases a “lose-lose” situation that would ultimately harm American consumers. He vowed to introduce legislation aimed at terminating Trump’s self-declared “emergencies” that authorized these tariffs.Though, the likelihood of success in a Republican-dominated Congress remains uncertain.
“These tariffs are taxes on consumers and another exhibition of Republicans ripping off Americans in an effort to bankroll Trump’s tax cuts for his billionaire backers,” Meeks stated. ”Rather of working with Congress to lower costs for Americans, President Trump is abusing the International Emergency Economic Powers Act (IEEPA) to circumvent Congress.”
Who Pays the Higher Prices? The Importer, than You
the trickle-down effect of these tariffs is undeniable. Initially, the importer bears the brunt of the increased costs, but ultimately, the burden is passed onto the consumers who pay higher prices for goods at the checkout counter. this further complicates an already challenging economic landscape, particularly for vulnerable individuals and families who rely on staple goods.
Trump’s Tariff Threat: A Recipe for Higher Prices
Despite a campaign centered around economic strength, President Trump’s re-election in November 2024 came amidst a backdrop of wary voters concerned about rising prices. While inflation rates had stabilized and the job market was robust, many felt Trump possessed a stronger understanding of economic matters compared to his Democratic opponent, then-Vice President Kamala Harris.
However, Trump campaigned on a platform of increasing tariffs on imported goods, a move met with alarm by economic experts who warned of a domino effect on consumer prices.Numerous studies, including those from the Tax Foundation, highlighted the potential for tariffs to escalate the cost of everyday essentials: “Whatever you expect to buy …is going to go up in price.”
History provides a sobering example of the potential ripple effects of trade protectionism. In 1929, President Herbert hoover signed the smoot-Hawley Act, implementing tariffs on imported agricultural goods and manufactured products.Although intended to stimulate domestic production, the Act backfired, triggering retaliatory tariffs from other nations. The result was a global economic contraction, accelerating the Great Depression and highlighting the interconnectedness of the global economy.
Tariffs,while sometimes implemented to safeguard domestic industries or generate revenue,often disproportionately impact consumers. Unlike taxes, which are levied directly on individuals or entities, tariffs are added to the cost of imported goods at the point of entry. This burden is ultimately passed on to consumers, leading to higher prices for everyday products ranging from electronics to food.
Trade plays a critical role in fueling New York’s economy.Canada stands out as a vital trading partner, supplying the state with goods valued at $22.8 billion in 2024. Minerals and metals,accounting for a third of imports,remain a cornerstone,followed by agricultural products and energy,each constituting 10% of Canadian exports to the Empire State. These trade interactions contribute substantially, supporting an estimated 520,600 jobs across New York.
New York reciprocates generously, exporting approximately $29.8 billion worth of goods to Canada. Financial and business services dominate New York’s exports, with over $10.3 billion exchanged in 2024 alone.
Mexico also engages in robust bilateral trade with New York. Exchange in 2023 reached $3.5 billion, demonstrating mutual reliance. Mexicans supply beverages, electrical components, computers, and plastic goods. In return, New York contributes engines, turbines, machinery, and plastic components to the Mexican economy. Their trading relationship indirectly supports 328,000 jobs in the Empire State.
Amidst this interwoven trade landscape, Senator Kirsten Gillibrand raised concerns about the President’s impending 10% tariff imposed on canadian imports.
“Just know that whatever you expect to buy, whether it’s the broom or your dust pin or your garbage can for your bathroom or your kitchen, or the sheets you put on your bed, or the pillows you sleep on at night, or the food you buy, or the toys you buy your kids, or the bikes you buy your kid, or anything else—the gardening equipment, the electronics equipment, anything you buy at a Walmart, is going to go up in price,” said Gillibrand.
let’s keep the conversation rolling. Tell me, are there any other details you’d like to delve into regarding trade, global economics, or Senator Gillibrand’s statement? I’m happy to provide additional insights.
New York residents are bracing for the consequences of President Trump’s recent tariff increases, with officials expressing concerns about rising prices and potential job losses. Senator Kirsten Gillibrand highlighted the widespread impact of a 10% tariff on all imported Chinese goods, stating, “Just about anything a New York consumer buys that is imported from China will cost more.”
Adding to the economic pressure, increased tariffs on canadian lumber are expected to affect the affordability of housing in the state. Gillibrand emphasized the urgency of addressing this issue,as New York strives to build more affordable homes amid skyrocketing housing costs.
While numerous goods will likely see price increases, consumers might experience the first wave of impact during Super Bowl celebrations. Gillibrand pointed out that many of the avocados sold in New York stores during this season come from Mexico, and consumers should expect higher costs for guacamole.
“When you are having your Super Bowl celebration, your guacamole is going up. I’ll promise you that, because those avocados get grown all over the place, including Mexico,” Gillibrand stated.”The price of half the things that you’re going to serve your guests are going to go up, as we get a lot of those imports, tomatoes, in particular, also from mexico.”
Beyond everyday items and food,Queens state Senator John Liu argued that the tariffs pose a more significant threat: job losses.
“Every economist will tell you that the amount of jobs lost due to retaliatory tariffs, meaning job losses in the United States, always exceeds the potential job gains from imposing tariffs that bring manufacturing back into this country, always,” Liu stressed. “The number of jobs we lose is always more than the job number of jobs we gain from increasing tariffs and having retaliatory tariffs.”
What specific industries in New York are most vulnerable to job losses due to retaliatory tariffs?
Senate Spotlight: Gillibrand on Tariffs and New York’s Economy
As President Trump ramps up trade tensions with China and Canada, New York Senator Kirsten Gillibrand is sounding the alarm about the potential impact on consumers and jobs in her state. In an exclusive interview with Achyde News, Gillibrand discussed the far-reaching consequences of the tariffs, highlighting concerns about rising prices, housing affordability, and job losses.
Guacamole on Hold? Gillibrand on the Everyday Impact of Tariffs
Achyde News: Senator Gillibrand, President Trump’s recent tariffs have been making headlines. How are these policies specifically impacting new Yorkers?
Senator Gillibrand: Just about anything a New York consumer buys that is imported from China will cost more.We’re already seeing this in everyday items like electronics, clothing, and toys. But it’s also going to effect essential goods. You’ll see it at the grocery store, too.A lot of the avocados sold in New York stores during Super Bowl season come from Mexico, and consumers should expect to pay more for guacamole. Even tomatoes, a staple ingredient in many dishes, are often imported from Mexico. So, the price of half the things you’re going to serve your guests are going up because we get a lot of these imports.
Beyond the Super Bowl: Housing, Jobs, and Retaliatory Strikes
achyde News: These tariffs seem to have broad implications. What about housing affordability in New York? How are these tariffs contributing to that challenge?
Senator Gillibrand: Increased tariffs on Canadian lumber are going to make building new homes more expensive. This comes at a time when New York is already struggling with a housing affordability crisis. We need to be building more affordable homes, not making it harder.
Achyde News: And what about the potential for job losses here in New York? Some economists are worried about the impact of retaliatory tariffs. What’s your take?
Senator Gillibrand: every economist will tell you that the number of jobs lost due to retaliatory tariffs – that means job losses in the United States – always exceeds the potential job gains from imposing tariffs in the first place.The number of jobs we lose is always more than the number of jobs we gain from increasing tariffs and having retaliatory tariffs. This is a serious concern for New York, where we have a robust manufacturing sector and rely heavily on international trade.
Looking Ahead: A Plea for Compromise in Trade Negotiations
Achyde News: Senator, what’s your message to President Trump as he navigates these trade negotiations?
Senator Gillibrand: I urge the President to prioritize finding compromises in these trade negotiations that benefit American workers and businesses, without imposing unneeded costs on consumers or damaging vital industries. Trade should be about fostering growth and possibility, not creating economic uncertainty and hardship.
