MONTGOMERY COUNTY — President Donald Trump announced he is pausing tariffs on most nations for the next 90 days, but the 105% tariffs targeting China are still in place.
He said these tariffs increased because China disrepected the United States by issuing retaliatory tariffs.
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As reported on News Center 7 at 6:00, Trade Partnership Worldwide is tracking the tariffs and estimates that companies across Ohio will pay an extra $946 million to import products from China.
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Some shoppers told News Center 7 they don’t know how to feel about the tariffs.
West Carrollton Kathy Robertson said she isn’t too concerned.
“We shop for what we need, and we shop the basics, as low price as we can get. And we’re on a budget, of course, so that kind of limits what we do, but I’m not concerned about that,” she said.
Moraine resident Jerry Moore III felt a little different.
“I’m a little afraid (because) we already are pinching pennies and stuff, right? It’s a little scary for everybody I think, can’t afford nothing,” Moore said.
Jared Pincin, an associate professor of economics at Cedarville University, breaks down how the tariffs may affect Ohioans.
“It’s gonna depend on what they buy, but given the wide-scale nature of the tariffs, it’s likely that it’s going to hit most consumers, particularly if you’re buying large scale items,” Pincin said.
He said the prices of items that will most likely increase from the tariffs are some clothing products, electronics, and cars.
“If you’re buying an automobile right now, these tariffs are gonna hit both used and new cars. And that’s going to be significant because every single automaker -- every one -- uses imported parts,” Pincin said.
Just before News Center 7′s John Bedell spoke with Pincin, Trump announced a three-month pause on most new tariffs.
“So it looks we’re moving now to the negotiation phase, which is the hope that a lot of us as economists have had that these tariffs are nothing more than trying to change the (trade) discussions. There clearly are different tariff rates between the U.S. and its trading partners. And whether those are fair or unfair is up to the user, but they need to be harmonized,” Pincin said.
It is still unclear what will happen after the 90-day period is over while countries negotiate with the Trump administration.
News Center 7 will continue to follow this story.
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