WASHINGTON STATE – Governor Bob Ferguson addressed concerns at a press conference regarding the full implementation of the Trump administration’s “Liberation Day Tariffs” planned for 2029.
He emphasized that these tariffs would lead to business disruptions and increased costs for consumers in Washington.
A new report, published by the Washington State Office of Financial Management, titled “Crosswinds Ahead: The Turbulent Tariff Toll on Washingtonians”, details some potential impacts, like a 16% increase in grocery store prices over two years. Ferguson went over the report in the press conference, explaining that if a family spends $200 a week on groceries, they will see an extra $128 per month added to their expenses.
“Washington, as I suspect all of you know, is one of the most trade dependent states in the country,” Ferguson said.
The Trump administration argues that the tariffs aim to regain economic sovereignty.
However, the report predicts significant price hikes for essential goods.
“We also predict a 7% spike in the cost of clothes and shoes in the next year, a 14% increase in natural gas prices, which of course, push up utility bills and an increase of 25% in the cost of used cars,” Ferguson said.
Ferguson stressed that these increases will directly affect consumers.
“No matter how much the president wants us to believe that foreign countries bear the cost of these tariffs, that’s simply not true,” Ferguson said.
The report forecasts not only price increases but also job losses.
“The president’s tariffs again, if fully implemented, will cut up to 31,900 jobs from Washington state alone,” Ferguson said.
The report also anticipates a decline in the state’s quarterly growth rate by 1.2 to 1.8%.
Washington State Treasurer Mike Pellicciotti noted, “The pressure on our state’s treasury may be significant — as much as 2.2 billion in 2029.”
Non Stop Local reached out to Washington Policy Center for comment.
They said in a statement:
“I think it’s ironic that Governor Ferguson is now acknowledging that potential new taxes on businesses is bad for both business and consumers in Washington after increasing taxes on working Washingtonians by over $9.5 billion just a few months ago. Fergusons enacted sales, business, carbon and gas tax increases hit the pocketbooks of the most vulnerable in Washington. While the proposed tariffs do have the potential to effect Washington state more than other less trade dependent states, if Governor Ferguson is so concerned about the impact to Washington tax payers, he should first be looking to reduce the out of control spending here at home in Washington.”
