SIOUX FALLS, S.D. (KELO.com) – Existing and threatened tariffs between the US and China could hit South Dakota businesses.
Dave Owen, President of the state Chamber of Commerce and Industry, says exports are vital.
“We have 1,100 manufacturers in South Dakota, employing 42,000 people,” Owen said. “They export to more than 100 countries. Every time we ask our members where they sell their products, that map absolutely astonishes me.”
Owen says businesses could be caught in the middle of any trade war.
“A trade war that’s just based on tariffs and not on good-negotiated agreements is going to hurt everybody,” he said.
He says many of his members are reporting increased costs due to fears of the impending tariffs.
“My understanding is none of the tariffs have actually ever been applied, but if you think they might, you gotta be in a stronger position,” Owen said. “But I’ve heard stories of things going up 10-15 percent. That’s either preparation or being a little bit opportunistic. But it’s a valid sign what’s going to happen if they go into effect.”
President Trump imposed a 25-percent tariff on imported steel and aluminum, and China responded in kind.
(Jerry Oster, WNAX, contributed to this report)