Nevada businesses have now paid an extra $52 million in import tariffs due to Trump tariffs
Latest monthly data shows a $29 million spike in tariffs paid on products subject to new Trump tariffs – more than 11 times the tariffs paid on the same products last year.
The trade war has also taken a heavy toll on Nevada exports, which dropped nearly 50 percent in the most recent monthly data.
Las Vegas, NV – Tariffs Hurt the Heartland joined a panel on trade and tariffs at CES today to discuss the impact of the trade war and release new data revealing how much tariffs have cost Nevada businesses, workers, and families. The data, compiled by the Trade Partnership, includes the comprehensive look at the full weight of tariffs that have been imposed on $200 billion in Chinese imports and the resulting actions taken against American exports. In October 2018 (the most recent month available), Nevada businesses paid $29 million in tariffs on products subject to Trump administration tariffs – and $52 million extra in tariffs since the trade war began. The October 2018 price tag is more than 11 times higher than the cost of tariffs paid on the same products at the same time last year.
See the Nevada State Impact Report HERE for more information.
“Tariffs are taxes that make it harder for American businesses to make and sell their products, pay their workers and keep their doors open,” said Tariffs Hurt the Heartland Executive Director Brian Kuehl. “From consumer electronics to farming, American businesses and workers are suffering under the weight of tariffs and paying for a trade war that has failed to achieve any of the administration’s goals. Costs are increasing by the month, exports are down, and the toll on our economy will only continue to grow.”
Part of a larger series, the data released today is the latest segment of the monthly Tariff Tracker that Tariffs Hurt the Heartland has launched in conjunction with The Trade Partnership, who compiles monthly data released by the U.S. government. The monthly import data is calculated using data from the Census Bureau, and the monthly export data is compiled based on Census Bureau and U.S. Department of Agriculture data. As part of the Tariff Tracker project, Tariffs Hurt the Heartland is releasing data on how individual states have been impacted by increased import tariffs and declining exports.
Tariffs Hurt the Heartland is the nationwide, nonpartisan campaign opposing tariffs that is supported by more than 150 trade associations from every industry. Tariffs Hurt the Heartland has been holding town hall meetings on the tariff impact of tariffs in communities across the country. The campaign is also airing ads across 11 states in the Midwest that describe the impact of tariff increases on consumers and has launched an interactive map tracking the tariff impact on American employers.