CATOOSA, Okla. — President Donald Trump’s tariffs on Canada and Mexico are in effect.
Some products will face a 10% penalty, others will see a 25% markup. Some of the goods that move around North America are steel and agricultural products, both are shipped through Green Country’s Port of Catoosa.
Executive Director David Yarbrough spoke with 2 News Oklahoma after Trump enacted the tariffs, “It’s a ripple effect. When you raise the prices by tariff or any other means, eventually it’s gonna affect all sectors."
The good news for Green Country’s economy: the tariffs are unlikely to impact the Port.
“The steel coils we handle come from steel mills, and are made domestically,” Yarborugh said, “We do not import any foreign steel here at Catoosa.”
Yarbrough also spoke on agricultural products.
“On the AG side, there might be some fertilizer that might come out of Canada, occasionally,” Yarborugh said. “What happens there remains to be seen.
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Trump plans to add tariffs to exports, too. Starting April 2, Canada and Mexico will pay a 25% tariff on products they receive from the United States.
Yarbrough expects the impact to go beyond the Port.
“If your competition has got a tariff on it, and it raises their costs 25%, you’re not gonna keep yours at the same level. They may not do it on day one, but over time, I think they’ll likely raise their costs, that’s free market,” Yarbrough said.
Trump admits it comes with consequences but has a bigger goal in mind.
“So what they’ll have to do is build their car plants, frankly, and other things in the United States, in which case they have no tariffs,” Trump said.
Yarbrough predicts that’s exactly how this will unfold.
“I think what the administration is attempting to do is get some of that stuff re-shored to the United States, as foreign companies don’t want to lose their foothold on the market, they may establish an American presence and manufacture things that currently we import," Yarbrough said.
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