A trade war with China could cost a wide variety of Utah businesses 60 million dollars.
The list includes Utah’s aerospace industry, hog farms, plastics manufacturers, aluminum recycling companies, wheat farmers and orchard owners.
A new report from World Trade Center Utah points out the following:
• Over 40% of Utah’s aluminum exports went to China and Hong Kong in 2017. Chinese tariffs on aluminum waste and scrap threaten over $26 million, more than a third of Utah’s aluminum exports worldwide.
• Utah exported over $19 million in beef products to China and Hong Kong in 2017. Chinese tariffs threaten all Utah beef products exported to China, nearly 20% of Utah’s worldwide beef exports.
• 14% of Utah’s $162 million in plastics exports went to China and Hong Kong in 2017. Chinese tariffs threaten about $12 million, or 7%, of Utah’s worldwide plastics exports.
• Chinese tariffs threaten indirect exports of nearly $20 million in Utah’s pork products and $300,000 in fruit, as estimated by The Utah Department of Agriculture and Food.
Today’s Top Stories
- Provo PD seeing many cars with illegal black license plates
- Virgin River tests positive for cyanobacteria that produces toxins
- Prosecutors warn parents about online safety after more than 100 predators arrested within…
- 18-year-old dead following fatal crash on Mountain View Corridor
- Florida vacation home invaded by vomiting vultures
- Thomas Saunders – Rocky Mountain Junior High
- New details about Lake Powell boat crash
- Review: Was “Frozen 2” a good sequel or even a good movie?
- Russia, China both continue to pose threat, expert says
- Utah Jazz win, promote two players for big awards