Latest news with #Pincin
Yahoo
09-04-2025
- Automotive
- Yahoo
‘It's going to hit;' Local economist explains how tariffs could impact Ohio shoppers
President Donald Trump announced he is pausing tariffs on most nations for the next 90 days, but the 105% tariffs targeting China are still in place. He said these tariffs increased because China disrepected the United States by issuing retaliatory tariffs. [DOWNLOAD: Free WHIO-TV News app for alerts as news breaks] As reported on News Center 7 at 6:00, Trade Partnership Worldwide is tracking the tariffs and estimates that companies across Ohio will pay an extra $946 million to import products from China. TRENDING STORIES: Man accused of hitting his daughter with truck before police crash, shooting takes stand in trial Man learns sentence for death of 15-year-old girl; woman charged in attempted cover-up, deputies say Former base commander set for court-martial next week at WPFAB Some shoppers told News Center 7 they don't know how to feel about the tariffs. West Carrollton Kathy Robertson said she isn't too concerned. 'We shop for what we need, and we shop the basics, as low price as we can get. And we're on a budget, of course, so that kind of limits what we do, but I'm not concerned about that,' she said. Moraine resident Jerry Moore III felt a little different. 'I'm a little afraid (because) we already are pinching pennies and stuff, right? It's a little scary for everybody I think, can't afford nothing,' Moore said. Jared Pincin, an associate professor of economics at Cedarville University, breaks down how the tariffs may affect Ohioans. 'It's gonna depend on what they buy, but given the wide-scale nature of the tariffs, it's likely that it's going to hit most consumers, particularly if you're buying large scale items,' Pincin said. He said the prices of items that will most likely increase from the tariffs are some clothing products, electronics, and cars. 'If you're buying an automobile right now, these tariffs are gonna hit both used and new cars. And that's going to be significant because every single automaker -- every one -- uses imported parts,' Pincin said. Just before News Center 7′s John Bedell spoke with Pincin, Trump announced a three-month pause on most new tariffs. 'So it looks we're moving now to the negotiation phase, which is the hope that a lot of us as economists have had that these tariffs are nothing more than trying to change the (trade) discussions. There clearly are different tariff rates between the U.S. and its trading partners. And whether those are fair or unfair is up to the user, but they need to be harmonized,' Pincin said. It is still unclear what will happen after the 90-day period is over while countries negotiate with the Trump administration. News Center 7 will continue to follow this story. [SIGN UP: WHIO-TV Daily Headlines Newsletter]
Yahoo
18-03-2025
- Business
- Yahoo
Egg prices may see some relief soon, how long will it take?
DAYTON, Ohio (WDTN) – Bird flu continues to wreak havoc not only here in Ohio, but all over the country, causing egg prices to soar. The Buckeye State has been one of the hardest hit over the past year, with about a third of egg-laying chickens being lost to avian influenza. As a result, wholesale eggs spiked to just above $8 a dozen earlier this month. In response, demand sharply fell off, and over the past week, so have prices, dropping to a 2025 low of about $3.50 a dozen. But you won't see those prices in stores in the near future.'Wholesale prices have dropped roughly about half over the last month, month and a half,' said Dr. Jared Pincin, associate professor of economics at Cedarville University. 'Retail prices have still gone up, and part of that is simply because what retailers are selling the customer now is what they bought at wholesale prices weeks or even a month ago, depending on what their supply chain is.'But additional relief could be in sight. In late February, the USDA announced they were looking to import eggs from other countries, including Turkey, who plans to send 460 million eggs to the U.S. in the first half of the year, relieving the supply shortage. While this could help with supply issues, the price may not decrease by much, due to shipping and import costs. 'It's still going to be less than what the current wholesale price is,' said Dr. Mark Jacobs, Professor of supply chain management at the University of Dayton. 'And because it's less than and there's a surplus then coming in, that's going to put downward pressure on that wholesale price.'With Easter a little over a month away, there is a lot of uncertainty about egg prices, but Dr. Pincin says that as long as bird flu cases don't ramp up, egg prices should not see additional increases.'There's going to be a little bit of an increase. It's not a huge amount. You know, if you look at past years, it's not as if the Easter demand, you know, doubles egg prices or anything like that. So it's a supply driven case right now, and that's really where the focus is,' said Pincin. Ohio has seen nearly 15 million commercial birds impacted by the bird flu this year alone. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
05-03-2025
- Business
- Yahoo
Economic professor details local impact of President Trump's tariffs
President Donald Trump's tariffs against the United States' three biggest trading partners are in effect. [DOWNLOAD: Free WHIO-TV News app for alerts as news breaks] As reported on News Center 7 at 6:00, grocery stores are one of the first places American consumers may see impacts, especially in the produce aisle. TRENDING STORIES: Teen formally charged after gun with illegal 'Glock switch' found at Springfield school Driver who caused deadly school bus crash wants conviction thrown out, says trial wasn't fair Dozens of faculty, staff positions at University of Dayton eliminated 'I fully expect tariffs on seasonal fruits and vegetables to increase because this time of year a lot of those are coming from Mexico,' Cedarville University Economics Professor Jared Pincin said. Trump's 25% tariffs on imported goods from Mexico and Canada went into effect Tuesday, as well as a heightened 20% levy on imported Chinese goods, according to the AP. Consumers could feel the pinch because it will be another couple of months before these types of products switch to California growing fields. 'So we're cutting out of somewhere else, in order to pay higher for fruits and vegetables now,' Lisa Preston said. Preston said she can't control international politics, but she knows there could be products from Mexico and Canada that will likely cost more. 'We want to protect you know, 'X' industry, whatever the industry is,' Pincin said. Pincin told News Center 7 that tariffs usually drive up prices in the short term, and oftentimes the country being targeted responds with similar tariffs. He pointed out that the goal of tariffs is to protect industries and negotiate better trade deals, which help American consumers in the long term. 'I think it will be passed over to the consumers, I think it would be kind of worth it,' Cheikh Ainina said. Ainina said he thinks we have to get better trade deals to help pay down the national debt. He hopes tariffs will encourage companies to build their products in the United States. 'I also heard Honda's coming back, the Honda Civic from Mexico, a lot of things could come back because they don't want to deal with the tariff,' Ainina said. Pincin told News Center 7 that in addition to searching for better trade deals, tariffs sometimes have national security overtones. That would include tariffs against China, which were put in place by Trump and kept in place by the Biden administration. Potential tariffs on Mexico could be aimed at stopping Fentanyl from crossing the border. News Center 7 will continue to follow this story. [SIGN UP: WHIO-TV Daily Headlines Newsletter]
