Tariffs endanger $186 billion in US economic activity, study finds
Tariffs the U.S. imposed over the past two years and retaliatory tariffs that followed threaten more than $186 billion in U.S. economic activity and could add $31 billion to $35 billion in additional costs to manufacturers and consumers, according to a study released today (Nov. 12) by the Port of Los Angeles.
The study, By the Numbers: Jeopardizing the National Benefits of Trade through Americas Busiest Port Complex, is based on international trade moving through the adjacent San Pedro ports of Los Angeles and Long Beach, the countrys largest container port complex. Imports through the two ports flow to every state in the nation, the study points out, and goods grown or manufactured in every state are exported through Los Angeles and Long Beach to global markets, mostly Asia.
Every urban, suburban and rural community across our nation benefits from imports and exports moving through the San Pedro Bay ports, and ongoing tariffs are putting those benefits at risk, said Port of Los Angeles Executive Director Gene Seroka. Some regions and industries are already feeling the pain, and the damage to jobs, income and tax revenue could be crippling down the road.
The study shows the number of jobs and how much sales, income and taxes are at risk for every state due to tariffs. The study also shows the economic benefits of these imports and exports to each congressional district and the percentage in each hit by tariffs.
The study notes that most of the U.S. import tariffs that have bee....