Business expert: Michigan at risk as Trump imposes new tariffs [Video]

(WXMI) — Tuesday, President Trump moved forward with his tariff plan, imposing 25% taxes on Mexican and Canadian imports. President Trump also doubled the tariff on Chinese products to 20%. He has maintained that these tariffs are intended to address drug trafficking and illegal immigration. But he’s also said the tariffs will only come down if the U.S. trade deficit narrows.

Now, the state of Michigan does a lot of trading with our neighbor to the north.

I spoke with Associate Professor of Finance at WMU’s Haworth College of Business, Matt Ross, who says Michigan is ground zero for a potential trade war and believes that this is just the beginning.

“Tariffs, for a place like Michigan that’s doing a lot of international trade, is a pretty bad thing,” Ross said.

Ross explains tariffs are taxes on imported goods. These taxes are paid by the company bringing the product into …