Trade works for Maryland. Tariffs don’t.
(July 11, 2018, ANNAPOLIS, Md.) With the talk of trade wars and retaliation tariffs making headlines daily, the concern for local businesses looms. Tariffs equate to a tax increase for both Maryland businesses and consumers. In-kind retaliatory tariffs will result in American-made goods becoming more costly—which means lost sales and jobs.
Based on a report by the U.S. Chamber of Commerce, over 812,700 Maryland jobs are supported by global trade and a total state export of nearly $156 million is at risk of being threatened by new tariffs.
See the full break down from the U.S. Chamber here:
Why is this happening?
The U.S. imposed new tariffs on steel and aluminum imports, so Canada retaliated with $12.6 billion in tariffs against American-made products.
Why does it matter?
812,700 Maryland jobs are supported by global trade.
Download the one-pager from the U.S. Chamber of Commerce.
Take a deep dive into how U.S. tariffs will affect Maryland business, attend our Business Policy Conference where the U.S. Chamber will go in-depth on how they impact the state.
