CHARLOTTE, N.C. (QUEEN CITY NEWS) — Businesses across the Carolinas are bracing for the potential impacts of the tariffs President Donald Trump is imposing on imports from Canada, Mexico and China.
The fees of 25% for Canadian and Mexican goods, and 10% for Chinese goods, will take effect Tuesday.
“Ultimately, the cost is going to be passed along with the consumer and, in our case, the patient,” said Casey Hite, CEO of Aeroflow Health based out of Asheville.
Hite is expecting his company will take a hit because of the Chinese tariffs.
“A broad swath of the products we provide are made from components that are manufactured in China,” he said. “We’re going to see costs go up.”
While it may not happen immediately, Hite said his customers will eventually feel the effects.
“It’s going to limit the availability or the selection of products that we can provide,” he said. “At times, it might lead us providing lower quality products to our patients.”
The White House has said the president is using the tariffs to get Mexico and Canada to close up their borders and stop fentanyl from getting into the U.S.
“I think the reason that it was done quickly like this is it’s a negotiating tool,” said Dr. John Connaughton, UNCC’s Director of Economic Forecasting.
Some local experts think we may not see a big difference at the gas pump. In other areas, prepare to pay up.
“Washing machines, dishwashers, TVs, automobiles, all of those things are going to are going to be subject to this 25% either Canada or Mexico tariff,” he said. “Those prices are going to go up significantly.”
Both Mexican and Canadian leaders have ordered retaliatory tariffs on American goods.
