As we prepare for the New Hampshire primary, it is important to keep in mind the significant impact tariffs have had on the state, in addition to Americans all across the country.
According to data from Tariffs Hurt the Heartland, taxpayers in New Hampshire have paid $111 million in additional tariffs.
Given that trade supports 170,400 jobs across New Hampshire – and that data shows the trade war with China could cost the state 23,500 jobs – the Democratic candidates must begin to speak about the negative impact of tariffs on the New Hampshire economy and commit to ending the trade war if elected.
As manufacturing is a traditional pillar of the New Hampshire economy, the state has been hit particularly hard by the trade war’s tariffs on steel and aluminum. As Greg Moore, the New Hampshire State Director for Americans for Prosperity, described in the Concord Monitor:
“The tariffs on steel and aluminum are squeezing one of the main drivers of our state’s economy: manufacturing. According to the New Hampshire Department of Transportation, our state has seen a surge in steel prices of about 30 percent since the summer of 2018. That increase is rippling through the economy.”
As reported by The Wall Street Journal, the crippling effects of the surge in steel prices was illustrated when a cost estimates for a Dover flood-control project requiring hundreds of feet of steel-reinforced pipes came in at $4.8 million, about $1.5 million over the city’s estimate of $3.3 million. This kind of cost overrun crowds out already small budgets for critical infrastructure projects.
Additionally, data from the Institute for Supply Management revealed that the manufacturing industry contracted for five consecutive months, in large part due to continued tariffs on the industry.
The harm from tariffs extends well beyond manufacturing. Nearly all of New Hampshire’s key exports are hurt by tariffs. New Hampshire Public Radio explained the extent of the problem in its report on how tariffs affect the state’s exports:
“So for New Hampshire businesses that export, the retaliatory tariffs from China, Canada and Mexico will make their products less competitive. On the list of goods in the crosshairs are everything from New Hampshire-caught lobsters to chandeliers to various glues.”
If you are interested in speaking with someone about the trade war and how it is hurting New Hampshire residents ahead of the primary, please contact press@americansforfreetrade.com