Washington Report Warns Tariffs Could Cost 30,000 Jobs, Billions in Revenue

A new report from the Washington State Office of Financial Management warns that tariffs implemented under President Trump's administration could lead to the loss of over 30,000 jobs in Washington by 2029, particularly affecting crop production, food and beverage manufacturing, tobacco, and aircraft sectors. The tariffs are projected to cause a $2.2 billion drop in state revenue and increase grocery prices by up to 16% in the next two years, along with rises in clothing, shoe, natural gas, and car prices. Governor Bob Ferguson emphasized the broad economic impact, stating that these tariffs would negatively affect families, businesses, and trade-dependent communities across the state. Local business owners, such as Efrem Fesaha of Boon Boona Coffee, report immediate cost increases of around 10%, leading to halted expansion plans and higher prices for consumers. While some manufacturing sectors like fabricated metals and textiles may see growth due to reduced import competition, the overall impact on labor income is expected to be negative. Nonprofit leaders highlight the growing challenge of food affordability amid shifting federal assistance programs, calling for collaborative efforts to ensure food security in Washington.