Wednesday, 14 March 2018 16:51

How will import tariffs impact New Mexico?

MFG jobs have increased across the nation, but not in NM. How will import tariffs impact manufacturers in our state? Give us your thoughts HERE.

Manufacturers help to drive New Mexico’s economy, with $3.51 billion in manufactured goods exports (in 2016). Some see it as a positive, and others a negative, but the fact remains that President Trump recently initiated steel and aluminum tariffs.

Specifically, on March 8, President Trump signed two proclamations imposing 25 percent ad valorem tariffs on all covered steel imports and 10 percent ad valorem tariffs on all covered aluminum imports.

As the NM affiliate for the National Association of Manufacturers, NMBC understands that these tariffs will have varied impacts in our state. Some companies may benefit from the import restraints and expect to increase sales and employment; others may see their competitiveness undermined, which could lead to negative impacts on sales and job opportunities.

NMBC wants to hear from you on the tariff issue: please comment on the NMBC Facebook page, or send us your input by email to nmbiz@nmbizcoalition.org.

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