SPOKANE, Wash. – Concerns are rising in Spokane over potential tariffs that President-elect Donald Trump has proposed on Canada and Mexico.
Trump announced he would impose a 25% tariff if the countries do not stop what he describes as the flow of drugs and migrants across the borders.
Canadian Prime Minister Justin Trudeau met with Trump last Friday night, but it remains unclear if any progress was made during their discussions.
Local experts are worried about the economic impact if these tariffs are imposed.
“Timber prices are likely going to go up,” associate professor of economics at Gonzaga University Ryan Herzog said. Joel White, the executive director of Spokane Home Builders Association added, “There’s a chance you could see an increase in the cost of housing just overnight.”
The uncertainty extends to whether this 25% tariff would be in addition to the 14% tariff imposed by President Joe Biden earlier …