Tariffs likely to hurt state economy

Sep 21, 2018

ANN ARBOR, MI (MPRN)--   Michigan’s economy is expected to feel the pinch as the next round of tariffs between the U-S and China take effect next week.

Credit Kiplinger.com

The U.S. Chamber of Commerce estimates a billion dollars’ worth of Michigan exports are being targeted by China, primarily affecting the auto industry. But China may respond with tariffs on more Michigan products in response to new tariffs the Trump administration is imposing next week on about $200 billion worth  of Chinese exports.

China is expected to slap new tariffs on $60 billion worth of U.S. goods. The Chamber estimates that could threaten another $2.4 billion in Michigan exports.

Speaking at an economic forum in China this week, Governor Rick Snyder said the ongoing tariff war will likely be “painful” for Michigan.