Washington State Reports Potential $2.2B Loss, 32,000 Jobs from Trump Tariffs

A new report from Washington state's Office of Financial Management warns that President Donald Trump's proposed tariffs, if fully implemented, could lead to significant economic harm in the state. The tariffs are projected to cause grocery prices to rise by more than 16% over the next two years, costing families hundreds of dollars more annually, with other consumer goods like clothing, shoes, and cars also expected to see notable price increases. The state could lose up to 32,000 jobs, particularly in agriculture and aerospace sectors, and face a $2.2 billion loss in general fund revenue by 2029. Governor Bob Ferguson criticized the tariffs as detrimental to Washington families and businesses, emphasizing the regressive nature of the tariffs and their disproportionate impact on low-income residents. While the tariffs' future is uncertain due to ongoing legal challenges reaching the Supreme Court, Republican leaders in Washington have questioned the neutrality of the report and suggested the governor is deflecting from the state's budget issues. The economic consequences include not only higher consumer prices but also slower economic growth and increased food insecurity, with local organizations like Northwest Harvest highlighting the strain on food banks.