The potential impacts of Chinese tariff’s on Louisiana’s economy

While the taxes on President Trump’s tariffs, and their impacts are uncertain, experts say consumers and businesses should prepare for possible price hikes.

“When it comes to Louisiana, you’ll certainly do a lot of trade with those three countries as well. So there definitely could be an impact in terms of potential prices,” said Matt Shultz, Lending Tree, Chief Consumer Finance Analyst.

Louisiana exports agricultural products and oil, those two industries could see changes.

“The vast majority of Americans expect these tariffs to lead to high prices, and that is even true regardless of the political party that you back.”

However, the bigger concern is the cost to consumers, and Shultz says it’s smart to prepare now.

“Whether you’re talking about businesses or consumers, the best move is probably to prepare for the worst when it comes to prices while hoping for the best,” said Shultz.

He advises saving money now to offset potential price increases.