President Trump imposing tariffs on Canada could result in higher lumber and gas prices for North Carolina residents, Walden said. “We buy a heck of a lot of oil from Canada. It’s called heavy oil, and our refineries are geared to deal with that heavy oil,” Walden said. “That’s not something you can switch on and off easily.”
As China, Mexico and Canada prepare for Trump’s tariffs to go into effect, NC businesses could be affected by the additional tax.
President Donald Trump earlier this week promoted tariffs as a way to bring furniture-making manufacturing to North Carolina.
An organized line of thunderstorms was active during the morning hours east of the Appalachians, prompting severe thunderstorm warnings and even a few tornado warnings.
Experts say new tariffs could slow economic growth and raise inflation. President Trump mentioned North Carolina in the reason why his plan will work.