Tariffs Hit Washington Businesses Hard
Seattle News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Tariffs Heavy Toll: Washington Businesses Face Billions in Losses, Thousands of Jobs at Risk
State analysts warn that ongoing tariffs could cost Washington businesses billions of dollars and thousands of jobs over the next few years. Despite cuts, estimates suggest losses of $1.5 billion to $2.5 billion if rates stay between 10% and 15%. This could result in 4,000 to 11,000 jobs lost and wage drops of $200 million to $700 million. A small lighting maker in Skagit County reported paying over $54,000 extra last year on tariffs, despite buying less from overseas. Governor Bob Ferguson is fighting in court for refunds on illegal tariffs and plans to challenge any new ones. Business owners report no manufacturing boom, just tougher competition and delays in hiring or expanding due to trade uncertainty.
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