Kemp says Trump tariffs ‘could be problematic’ if left in place
Georgia Governor Brian Kemp expressed concerns regarding the potential long-term economic impact of tariffs imposed by the Trump administration. While attending a workforce event in Rincon, Georgia, he highlighted that if these tariffs remain in place for an extended period, they could negatively affect small businesses in the state. Kemp indicated optimism that the tariffs would not last long, suggesting that the situation could be beneficial if resolved quickly.
In related remarks, Kelly Loeffler of the Small Business Administration noted that small business loans have surged by 80% as Trump’s presidency began, indicating a generally positive outlook among business owners despite the trade tensions. Loeffler observed that entrepreneurs are still investing and expanding, reflecting confidence in their ability to manage the associated costs of the tariffs.
The backdrop to these concerns includes ongoing trade negotiations and mixed results regarding the overall U.S. economy, with recent reports showing both job growth and a contraction in GDP during the first quarter of the year. Additionally, Trump’s tariffs on Chinese goods have sparked retaliatory measures from China, compounding the trade war’s uncertainties.
Georgia governor says Trump tariffs ‘could be problematic’ if left in place
SAVANNAH, Georgia — Gov. Brian Kemp (R-GA) warned of economic consequences for Georgia’s small businesses if the Trump administration’s sweeping tariffs aren’t lifted in the coming months.
“All the tariffs, you know, I’m hopeful they don’t play out too long,” said Kemp, who was a home builder and developer before entering politics, during remarks to reporters at a workforce event in Rincon, Georgia, on Friday. “If it’s short-term, I think it’s going to be great. If it’s long-term, it could be problematic.”
President Donald Trump launched a global trade war in February, stating that the United States was “overpaying” duties to other countries and that he would bring manufacturing stateside with steeper trade barriers.
That ambitious goal has been met with skepticism as employers and workers wait to see if the price of imported goods rises. The administration gave mixed messaging on whether the tariffs would be permanent or simply serve as leverage in trade negotiations, but the White House has since embarked on renegotiating deals with dozens of countries following a partial pause.
Kelly Loeffler, the administrator of the Small Business Administration, joined Kemp on a visit to the Effingham College and Career Academy to talk about how the state was preparing students for jobs in the manufacturing sector amid the Trump administration’s push to bring America’s industrial base back from China.
When asked how small businesses felt about the tariffs and the impending costs they could have on start-ups, Loeffler said small business loans had shot up 80% since Trump took office, suggesting business owners still have a positive outlook despite the trade war.
“Small businesses don’t take out loans unless they’re confident that they can repay them. I mean, these are collateralized loans underwritten by banks, so small businesses are investing right now,” said Loeffler. “I’m not seeing concerns. I’m seeing them hire, invest, and expand.”
The Trump administration released a positive jobs report earlier Friday, which included 177,000 new jobs added nationwide. However, earlier in the week, the Bureau of Economic Analysis reported that the economy shrank by 0.3% in the first quarter of the year.
US PARTNERS WITH UZBEKISTAN ON PAID DEPORTATION OPERATION
Trump has imposed a 145% tariff on Chinese goods, which China responded to with a 125% tax on the U.S.
Other countries faced a wave of “Liberation Day” tariffs that varied in percentage, with a floor of 10%. The administration has since paused the higher thresholds for 90 days following a stock market crash and volatility in the bond market.
" Conservative News Daily does not always share or support the views and opinions expressed here; they are just those of the writer."
*As an Amazon Associate I earn from qualifying purchases
Now loading...