NASHVILLE, Tenn. (WTVF) — As tariffs could soon begin taking effect, imports from Canada, Mexico, and China could cost Tennessee an estimated billions of dollars annually.
That's why local farmers and businesses held a town hall to educate the community about how we could feel the effects.
According to new data, Canada, Mexico, and China account for nearly a third of Tennessee’s $111 billion in total imports in 2024. And additional tariffs on Canada and Mexico would significantly disrupt trade.
Tennessee business leaders, academics, and policymakers came together Thursday to discuss the local impact.
Tennessee exporters are at risk, with industries such as whiskey, baked goods, and automotive manufacturing being particularly vulnerable to retaliatory tariffs from key trading partners.
At the town hall, panelists said the steep rise will eventually impact the consumer.
"It's going to result in price increases to our customers, which over time and on average could result in job losses and that's what analysts are indicating, several tens of thousands of job losses in the hospitality and retail industry," said panelist and CEO of Ole Smokey Distillery Robert Hall.
Farmers for Free Trade has released new data from Trade Partnership Worldwide, which suggests the new measures could cost Tennessee over $8 billion annually. For context, the state paid only $2.6 billion in total tariffs on all imports in 2024.
Of all U.S. states, Tennessee would be paying the eighth-highest amount in new tariffs.
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