
New Hampshire manufacturing expected to take hit from tariffs on Canadian raw materials
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New Hampshire manufacturing expected to take hit from tariffs on Canadian raw materials
Manufacturers that rely on raw materials from Canada said they’re worried about their bottom line. Sen. Jeanne Shaheen, D-New Hampshire, said she’s working on legislation that would allow exemptions on products made in Canada for New Hampshire businesses. Some estimates are that families can expect to pay $2,400 per year more in household costs. Canadian officials said raw material industries will be hardest hit.
Some New Hampshire manufacturers say they’re dealing with longer wait times and increased costs because of new tariffs.With tariffs of 35% on goods from Canada starting Friday, manufacturers that rely on raw materials from New Hampshire’s northern neighbor said they’re worried about their bottom line.U.S. Sen. Jeanne Shaheen, D-New Hampshire, said she’s working on legislation that would allow exemptions on products made in Canada for New Hampshire businesses.She said tariff changes have raised a lot of questions.>> Download the free WMUR app to get updates on the go: Apple | Google Play <<"There is a lot of uncertainty," Shaheen said. "And given that the president has made about 100 statements one way or the other on tariffs since he took office, it's really hard to know where he's going."Shaheen said manufacturing jobs have been disappearing, and some estimates are that families can expect to pay $2,400 per year more in household costs.President Donald Trump said the country will benefit from tariffs on $3 trillion worth of imported goods. White House Press Secretary Karoline Leavitt said the tariffs are part of an economic plan to lower inflation, create more jobs and encourage more investments at home."So-called experts claimed that President Trump's tariffs would spike inflation and hurt American consumers, but consumer spending growth just accelerated, and inflation remains right on track," Leavitt said.Trump moved on Friday to fire the commissioner of the Bureau of Labor Statistics after the monthly jobs report showed that the U.S. economy added 73,000 jobs in July, well below expectations. The report also sharply revised the May and June numbers, showing the weakest pace of hiring in a three-month period since 2020, during the pandemic.He accused Commissioner Erika McEntarfer, without evidence, of manipulating the jobs data.Canadian officials said raw material industries will be hardest hit, but they're going to try to minimize the effects.
Source: https://www.wmur.com/article/new-hampshire-manufacturing-tariffs-canada-8125/65577992