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WA Could Lose Billions in Revenue From Trump’s Tariffs, New Report Says
A nonpartisan report warns that Washington could lose 31,900 jobs and face $2.2 billion in lost revenue over four years due to tariffs increasing prices on essentials by up to 16%.
- On Thursday, the Washington State Office of Financial Management released a report projecting $2.2 billion in lost revenues and up to 31,900 jobs lost in Washington state by 2029 due to tariffs.
- President Donald Trump's 'Liberation Day' tariffs, unveiled in April, are duties on imports the administration says aim to regain economic sovereignty; a tariff is a tax on imported goods, per the World Trade Organization.
- Ferguson said grocery prices could rise 16% over two years, with Washington families spending $200 weekly facing $128 extra monthly and used cars rising 25%.
- State officials will use the Office of Financial Management findings to guide budgeting and support vulnerable groups, while Northwest Harvest CEO Thomas Reynolds warns rising food insecurity will disproportionately impact families facing higher prices.
- Most tariffs were struck down by a federal appeals court, the Trump administration is appealing to the United States Supreme Court, and Governor Bob Ferguson led a May coalition challenging the tariffs.
17 Articles
17 Articles
Report: WA could lose $2B, thousands of jobs from Trump’s tariffs
Washington state could lose $2.2 billion in tax revenue over the next four years if the Trump administration’s proposed tariffs are fully implemented, the state Office of Financial Management reported.The agency, which handles the state’s budgeting, released a new report Thursday detailing potential impacts from recent tariff actions. The report assumes President Donald Trump’s “Liberation Day” tariffs, which were announced in April, are fully i…
The Columbian
WA could lose billions in revenue from Trump’s tariffs, new report says
Washington’s grocery prices could grow more than 16% if President Donald Trump’s proposed tariffs are allowed to continue, predicts a new state report released Thursday. Read more...
New report finds tariffs to raise prices in Washington State
WASHINGTON STATE - Governor Bob Ferguson addressed concerns at a press conference regarding the full implementation of the Trump administration's "Liberation Day Tariffs" planned for 2029. He emphasized that these tariffs would lead to business disruptions and increased costs for consumers in Washington. A new report, published by the Washington State Office of Financial Management,
KHQ Right Now
NBC Right NowTariffs could cost Washington more than $2 billion over the next four years, report says
OLYMPIA, Wash. - President Trump's "Liberation Day" tariffs could cost Washington $2.2 billion and 31,900 jobs over the next four years, a recent analysis from the Washington State Office of Financial Management (OFM) found.
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