ATLANTA (WJBF) – The Georgia Chamber of Commerce is taking a closer look at the latest tariffs and how they could affect your wallet.
India is now included among countries such as China, Canada, and South Korea that are subject to tariffs, meaning consumers will need to pay more for products originating from these nations.
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.
The CEO of the Georgia Chamber of Commerce, Chris Clark, mentioned that India is now facing a 50% tariff due to its usage of Russian oil, a situation that adversely impacts small businesses which had adjusted their supply chains to rely on India.
Construction costs may also rise due to tariffs on steel and aluminum.
Clark highlighted that the major concerns currently pertain to tariffs on steel and aluminum, which are crucial for infrastructure. He noted, “Regardless of the source of your steel and aluminum—be it Europe, South America, or Asia—these materials will be affected. Consequently, projects such as roads, bridges, and new buildings will experience increased costs.”
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.
