Trade War Between U.S. and Canada Sparks Reactions in Ohio
Tariffs between the U.S. and Canada are increasing costs in Ohio's construction and manufacturing sectors, creating economic uncertainty.
The ongoing trade war and applied customs tariffs between the U.S. and Canada continue to negatively impact local businesses and citizens in the state of Ohio economically.
Slowdown in the Construction Sector
Joe Koch states that operations in his family business are negatively affected due to rising costs and uncertainties in trade policies.
This stagnation in the construction sector causes citizens to give up on building homes or wait for market conditions to improve.
Impact of Tariffs on Costs
Customs tariffs introduced by U.S. President Donald Trump on Canada and other countries both drive up raw material costs for businesses and reflect as higher prices for consumers.
Local businesses are forced to turn to local alternatives instead of Canadian-origin products they previously preferred.
Situation in Manufacturing and Steel Sector
In the Youngstown region, which was historically the center of the steel industry, thousands of manufacturing workers are facing the effects of the trade war.
Chamber of commerce officials in the region state that tariffs paint a mixed picture because while they support some local steel companies, they leave others in a difficult situation.
Exports and Economic Ties
Last year, the state of Ohio exported $17.5 billion worth of goods to Canada, accounting for about one-third of its total exports.
The newly applied 50 percent tariffs raise concerns that long-standing economic ties could be harmed.