Trade Works for South Carolina, Tariffs Don’t

Staff Report From South Carolina CEO

Monday, July 9th, 2018

(US CHAMBER OF COMMERCE) The administration's new tariffs threaten to spark a global trade war. Canada, Mexico, the EU, and China have already retaliated or announced plans to retaliate with billions of dollars in tariffs on American-made products. Tariffs imposed by the United States are nothing more than a tax increase on American consumers and businesses, including manufacturers, farmers, and technology companies, who will all pay more for commonly used products and materials.

Retaliatory tariffs imposed by other countries on U.S. exports will make American-made goods more expensive, resulting in lost sales and ultimately lost jobs here at home. This is the wrong approach, and it threatens to derail our nation's recent economic resurgence.

South Carolina Jobs Supported by Trade: 579,300

Total State Exports Threatened by New Tariffs: $3,013,293,120

Total Exports to Canada Threatened by New Tariffs: $287,155,895

1. Combined Refrigerator -freezers with Separate Doors: $49,743,191
2. Handkerchiefs, Tissues & Towels Of Paper Pulp Etc: $31,455,251
3. Mowers For Lawns, Parks Etc: $30,580,480

Total Exports to China Threatened by New Tariffs: $2,571,709,413

1. Passenger Vehicle, 1500 to 3000 cc: $1,892,228,112
2. Passenger Vehicle, Over 3000 cc: $459,049,941
3. Gear Boxes For Motor Vehicles: $109,223,855

Total Exports to EU Threatened by New Tariffs: $37,345,479

1. Articles Of Iron Or Steel: $15,117,227
2. Other Bars and Rods Stainless Steel: $7,651,904
3. Motorboats, Other Than Outboard Motorboats: $3,947,287

Total Exports to Mexico Threatened by New Tariffs: $117,082,333

1. Flat-rolled Alloy Steel, Plated: $25,237,986
2. Flat-hot-rolled Iron, Non-alloy Steel, Coil: $18,589,703
3. Iron, Non-alloy Steel, Coil 3mm to 4.75mm: $12,540,597