New Tariffs May Affect Georgia’s Economy

ATLANTA (WJBF) – The Georgia Chamber of Commerce is taking a closer look at the latest tariffs and how they could affect your wallet.

India joins the latest of countries, along with China, Canada and South Korea, to face tariffs which means you will pay more for goods from these countries.

There are still ongoing negotiations with the European Union, Japan and Vietnam on trade agreements.

The Georgia Chamber of Commerce President, Chris Clark, said you will likely pay more for electronics, clothing, toys and food.

“I’ve noticed groceries going up, especially with school lunches at risk. It’s hard making sure they’re properly fed,” said Amber Ellington.

CEO, Georgia Chamber of Commerce, Chris Clark. said, India now faces a 50% tariff because of its Russian oil use, hurting small businesses that had shifted supply chains there.”

Construction costs may also rise due to tariffs on steel and aluminum.

“The biggest issues you are seeing right now are steel and aluminum tariffs because they are so critical to infrastructure,” said Clark. “Those are universal no matter where your steel and aluminum are coming from whether it is Europe or South America or Asia. They will be hit with those. You will see higher cost for road and bridge projects or for new buildings being built.”

Georgia’s farmers and aviation industry may benefit from trade deals being worked out.

EU market openings could help farmers export more and pharmaceutical regulations could be relaxed with Japan.

The Georgia Chamber of Commerce will release a full tariff impact report, including how India’s tariffs will reshape Georgia’s economy.