Heading into the Nevada caucuses, the negative impact tariffs are having on the state’s businesses, consumers, workers and families remains a critical issue.
Data from Tariffs Hurt the Heartland shows that taxpayers in Nevada have paid $467 million in additional tariffs to date.
Beyond this, export data from Panjiva – a division of S&P Global Market Intelligence – reveals that Nevada is among the states hurt most by the trade war with China, losing over 20 percent of its total exports since 2017.
Throughout the 2020 election, it is important for candidates to recognize the crucial role that trade plays in driving Nevada’s economy. Trade supports 343,900 jobs across the state, and 21,600 Nevadans could lose their jobs if trade tensions with China continue.
As the Las Vegas Review-Journalreported, the negative impact of the trade war with China has been felt across the state’s economy. This has left Nevada business owners with the difficult decision to either absorb the costs of tariffs themselves or raise prices in order to keep their company afloat.
Some businesses, like Cheri and Mike Tillman’s Pro Cyclery, have had no choice but to raise prices as costs for manufacturers and suppliers rise due to tariffs:
“As soon as the tariffs were announced, the bike companies let us know they would have to start increasing (prices) so it was pretty immediate … (If) our prices go up, our prices to our customers go up.”
Other companies, like Las Vegas Mannequins, have had to completely overhaul the way they do business. Alison Wainwright, the company’s founder and chief executive, described it like this:
“It’s been significant enough that I have a half-finished container sitting in China … At first, I thought maybe it’s not that big of a deal, depending on what type of material is on the (tariff) list, but it got to the point now where we’re just trying to sell what we got in the building and order wholesale from other importers.”
The Phase One Trade Deal with China has provided some relief, but more work remains. It is imperative that presidential candidates recognize this and lay out a plan to end the tariffs that have hurt Nevada businesses and consumers.
If you are interested in speaking with someone about the trade war and how it is hurting Nevadans ahead of the caucuses, please contact press@americansforfreetrade.com.