North Carolina Business Leaders Continue Discussing the Impact of Tariffs Amid Economic Crisis
At the beginning of June, Tariffs Hurt the Heartland held an online discussion that included North Carolina farmers, business owners and manufacturers that continue to be negatively impacted by the trade war between China and President Trump.
North Carolina business owners and leaders previously discussed the mounting costs of tariffs and the trade war. The conversations go on as costly tariffs continue to be imposed on North Carolina amid a growing economic crisis that has cost the state jobs and businesses. These talks include leading state retailers, supply-chain experts, distillers and more. New data on the impact of tariffs to North Carolina consumers, businesses and farmers will continue to be released as it becomes available.
Across many industries, these farmers and business owners (including Ravenox's very own CEO, Sean Brownlee) have been vocal about eliminating tariffs and how it would positively effect their businesses. COVID-19 has only furthered the complications these leaders and their businesses face in the current market.
“Knowing that as a small business we have spent over $150,000 on tariffs, we are not able to hire [more] employees like we would want to. And I know a number of other U.S.-based manufacturers that are facing the same problem,” Brownlee said.
To date, the citizens in North Carolina have lost over $1.4 billion to the payment of additional taxes due to these tariffs. It is even possible that tariffs could cost well over 60,000 jobs to be lost in North Carolina alone. Sadly, bankruptcy being experienced by farmers has already seen a 33% increase.