MITC - Maine International Trade Center
01/31/2025 | Press release | Distributed by Public on 01/31/2025 23:51
Trump tariffs may roil Maine energy prices, and lobster, lumber markets
Trump tariffs may roil Maine energy prices, and lobster, lumber markets
- January 31, 2025
Canada, which is Maine's largest trading partner, could be particularly hard hit by a 25% universal tariff, as suggested by the president.
Tariffs that are central to President Donald Trump's economic policies could destabilize markets for many Maine products from lumber to lobsters to electricity.
The president has said he will impose tariffs of 25% of the value of a product imported from Mexico and Canada beginning Saturday. His reasons are numerous: to prod businesses to move production to the U.S.; to punish trading partners he says are unfairly competing against the U.S. because of policies, such as government subsidies, that distort markets; to raise revenue; and to pressure governments to negotiate on issues such as illegal immigration.
MITC - Maine International Trade Center published this content on January 31, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on February 01, 2025 at 05:51 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]