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Washington officials say federal tariffs could raise prices, cost jobs and shave billions from state revenue
Summary
Governor Bob Ferguson and state officials released an Office of Financial Management analysis saying recently announced federal tariffs could raise grocery costs, reduce growth and cost Washington billions in revenue; the state joined legal action and local businesses and food‑aid groups warned of immediate strain.
Governor Bob Ferguson and state economic officials on Tuesday described projections from the Office of Financial Management showing that recently announced federal tariffs could produce higher consumer prices, reduced economic growth and substantial losses to Washington’s general fund.
The governor summarized the OFM scenarios and said the most extreme ‘‘liberation day’’ tariff scenario would bring an effective tariff rate of about 27 percent and, if fully implemented through 2029, could push grocery prices up by as much as 16 percent over two years. "The illegal tariffs imposed by President Trump will, as Thomas made clear, affect all Washingtonians to higher prices, business disruptions, and much more," Ferguson said at a Seattle press event held at Northwest Harvest.
Why it matters: The state’s…
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