President Trump imposed a number of tariffs last week, including a 34% tax on imports from China and a 20% tax on the European Union, as well as a baseline 10% import tax on all countries.
“We’re going to start being smart, and we’re going to start being very wealthy again,” Trump said about the tariffs, but many economists warn they could lead to a weakened economy or a recession.
North Carolina is particularly vulnerable to certain tariffs, as almost half of the state’s imports come from the EU. Some companies in Charlotte or closely tied to the city have seen double-digit drops in the first quarter of this year.
We unpack the potential short- and long-term impacts the tariffs may have on the economy and on Charlotteans’ wallets.
GUESTS:
Jeff Dorfman, professor of agricultural and resource economics at North Carolina State University
Danielle Kurtzleben, White House correspondent at NPR
Mark Vitner, chief economist at Piedmont Crescent Capital
