‘Enough is enough': Massachusetts leaders, experts, and consumers cornered by changing tariffs
Uncertainty still looms for Massachusetts leaders and consumers after international, reciprocal tariffs were temporarily rolled back Wednesday.
President Donald Trump bumped tariffs for Chinese imports to 125%.
The policy change spiked global markets on Wednesday. Local experts, though, claim the constant repositioning of tariffs is hurting Massachusetts residents and New England consumers.
'If there's one thing the economy doesn't like, it's uncertainty,' said Victor Matheson, economics professor at College of the Holy Cross in Worcester.
He asked, 'How do I know that if I buy now, [Trump's] not going to lower tariffs tomorrow. Or, do I need to buy now before he increases them the next day?'
Gov. Maura Healey on Beacon Hill Wednesday was also sounding the alarm.
After meeting with local businesses and leaders at the statehouse, she said, 'This is causing considerable harm to our residents to our economy to our businesses... At the end of the day, I wish somebody could reach the president and get him to stop because enough is enough.'
For Bay State residents and families on a budget, the uncertainty day-to-day is putting many large-scale purchases on pause.
'It's very worrisome,' said Amanda Annis of Quincy. 'I would hesitate buying something electronic.'
Others told Boston 25 they are holding off on financial decisions until the market stabilizes.
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