If President Donald Trump puts a 25% tariff on products coming from Canada starting next weekend, as he said this week he is considering, electricity costs in Massachusetts could increase by as much as $200 million a year, Gov. Maura Healey told business leaders Thursday morning.
The governor said she is very concerned about the president’s idea to impose higher tariffs on China and new, steep tariffs on products imported from Canada and Mexico. She told Associated Industries of Massachusetts that it will be important for the business community and her administration to speak with one voice as they urge the White House to reconsider.
“Those countries are America’s largest trading partners. They are also Massachusetts’ largest trading partners. We trade a combined $29 billion worth of goods with them, annually. That includes lumber and materials we build homes and factories with; and the energy we power our homes, businesses, and cars with,” she said at the organization’s “Executive Forum” in Waltham, according to remarks she prepared for delivery.
While signing a suite of executive orders in the Oval Office on Monday night, Trump told reporters that he planned to put a 25% tariff on Canadian and Mexican products beginning Feb. 1. The New York Times reported that the president said his decision was based on the countries allowing “mass numbers of people and fentanyl” to come into the United States. He said Tuesday he plans to impose an additional 10% tariff on Chinese imports “based on the fact that they’re sending fentanyl to Mexico and Canada,” the Times reported.
The governor noted to the influential business group Thursday morning that commercial and industrial ratepayers would bear at least half the additional cost of electricity if Trump’s proposed tariffs take effect.
“So there is no doubt: Tariffs will mean higher costs for residents – including for the basics they depend on, like clothing and groceries. They…
