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Economic advisor warns tariffs and immigration policy could slow Santa Fes growth; housing and construction present mixed signals
Summary
Riley White, the city's economic advisor, told the Finance Committee that potential national tariff policy and stricter immigration rules pose downside risks to Santa Fe's economy, while local tourism and property tax receipts provide revenue resilience. He also reviewed housing, rent, labor and construction trends.
Riley White, the citys economic advisor and associate dean at the University of New Mexico, presented a post-election economic update to the Finance Committee on Jan. 13, telling council members that tariffs and immigration policy were the two national issues most likely to affect Santa Fe over the next few years.
White said tariffs, especially broad or prolonged measures, act as a drag on gross domestic product and can raise consumer prices by reducing competition. He noted the experience of a 2009 U.S. tariff on Chinese tires that preserved some domestic tire jobs but led to higher consumer prices and net job losses in retail. "Tariffs are almost universally a bad thing on the economy,"…
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