6 events in Passaic County with a date

Canada, EU slap tariffs on US

What New Jersey products are at risk?

By: Daniel Munoz
NorthJersey.com
USA Today Network - New Jersey

..... Canada and the European Union are set to impose 25% tariffs on tens of billions of dollars in goods made in the U.S., as economic tensions ramp up among longstanding allies and trade partners.
..... The EU announced Wednesday [03/12/2025] that it would impose counter-tariffs on $28 billion in U.S. goods to retaliate for 25% tariffs that President Donald Trump has imposed on steel and aluminum from Europe, Canada and elsewhere.
..... Meanwhile, Canadian officials slapped over $20 billion in tariffs on U.S. exports.
..... On Tuesday, [03/11/2025] Trump threatened 50% tariffs on steel and aluminum coming into the U.S. from Canada, but he backed off hours later.
..... He still imposed 25% tariffs on those metals coming into the U.S. from any country, including Canada, effective Wednesday [03/12/2025] morning, a move New Jersey manufacturers said would increase costs that would likely be passed on to consumers.
..... Tariffs are essentially taxes on imports, and economists generally agree that the cost gets passed to consumers, putting brakes on the economy.
..... Trump was initially set to impose 25% tariffs this month [03/2025] on imports from Canada and Mexico but gave two separate one-mouth extensions, once in February and again in March. [2025]
..... Trump and his administration rebuffed fears that tariffs could trigger a recession but conceded that there could be some higher prices.
..... So far, inflation has cooled, according to recent data from the Bureau of Labor Statistics. But the full extent of any tariffs on price increases in March [2025] would not be known until April [2025] at the earliest, given the one-month reporting lag.

What exports from New Jersey to Canada could be affected the most?

..... New Jersey exports $8.8 billion in goods to Canada annually, reported the Canadian Consulate General in New York.
..... Top Garden State exports to our neighbor to the north include:
* Pearls, Gems, precious metals and jewelry.
* Plastics.
* Perfumes, essential oils and toiletries.
* Fuel oil
* Pharmaceutical products.
* Organic chemicals.
* Computers.
* Optical, medical and precisions instruments.
* Fruits and nuts
* Prepared vegetables.

What NJ exports too the European Union would be the most affected?

..... New Jersey companies annually export $10.1 billion in goods to the EU, according to the EU's Directorate-General for Trade.
..... Top New Jersey exports to the EU include:
* Metals/
* Pharmaceuticals and medicine.
* computer equipment.
* Soaps, cleaning products and toiletries.
*Cars.

This article contains material from Reuters and USA Today.

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