NEWS BLIPS
Economist Says New Tariffs May Mean Big Losses For Indiana Businesses
Editor's Note: This news item was retrieved and first published through Inside INdiana Business's website.
MUNCIE, Ind. - Inside Indiana reports that economist Mike Hicks, director of the Center for Business & Economic Research at Ball State University, estimates the Trump Administration’s tariffs could result in the loss of more than 30,000 jobs in the state over the next seven years, and a drop in Indiana’s Gross Domestic Product of $668 million next year alone. Hicks said these are “very conservative” estimates with the biggest losers in the steel, aluminum, soybeans, corn and automobile manufacturing sectors.
“The retaliatory tariffs are going to target the things we’re really good at. So we’re going to see automobiles, automobile parts, anything that’s steel-using, steel producing, anything that’s agriculture is going to get clobbered,” Hicks is quoted as saying. “Indiana depends so heavily on manufacturing and agriculture that even a very modest trade war would be recessionary for the Midwest.”
To read the full story by Dan McGowan, click here.