South Carolina will be one of the biggest losers in Trump's trade wars, business group warns
COLUMBIA — Growing strains between the United States and its international trade partners could have a disproportionate impact on South Carolina's economy, potentially hitting local workers and consumers in their wallets.
A study by the U.S. Chamber of Commerce projects South Carolina will be the eighth-most affected state by tariffs from Canada, China, the European Union and Mexico imposed in response to new tariffs from President Donald Trump's administration, according to an interactive graphic the chamber posted on its website.
South Carolina has some $3 billion in exports to those countries that either will or could be affected by the new tariffs. Eighty-five percent of those exports, or $2.6 billion worth, could be impacted by Chinese tariffs, with the other $400 million primarily being hit by Canada and Mexico, based on U.S. Commerce Department statistics.
States with large automobile production facilities, such as South Carolina, are among the most exposed to the tariffs, according to Bloomberg News. However, the chamber's numbers show the three most impacted products — refrigerators, paper pulp products and lawnmowers — make up a combined $112 million of South Carolina's exports to Canada.
Read more: https://www.greenvilleonline.com/story/news/2018/07/05/south-carolina-one-biggest-losers-trumps-trade-wars/758874002/
