Vermont businesses are sounding the alarm over anticipated tariffs

Vermont businesses are sounding the alarm over anticipated tariffs from the Trump administration. From manufacturing to solving Vermont’s housing crisis to what folks pay on their electric bill, local business leaders say anticipated fees on the import of Canadian goods will ultimately fall on the backs of consumers and stifle economic growth. “It’s going to cost our Canadian customers $15 billion a year or $65 million a day,” said Jake Holzscheiter, A St. Albans-based customs broker. Vermont Senator Peter Welch hosted a roundtable Monday of businesses and trade groups to explore the impact of potential tariffs that the Trump administration has said are aimed at bringing jobs back to the U.S. The tariffs are a contrast to the Biden administration’s approach, which offered billions in financial incentives to grow jobs. There is still a lot we don’t know about the new administration’s plans, including how high the tariffs could be or which sectors of the economy could be targeted, but experts say Vermont is heavily dependent on Canadian products.