The Nevada State Treasurer Zach Conine is calling out President Donald Trumps recent decision on tariffs.
On Wednesday, the President announced a pause on most tariffs for 90 days, while also increasing tariffs on China at the same time.
"Foreign countries do not bare the brunt of increased taxes they never have and never will," Conine said. "They are passed on through the supply chain to American consumers."
Trump has set and pulled back the imposed tariffs a few times now.
The State Treasurer says that the uncertainty is putting businesses on edge.
"As a result we see increases in prices as businesses are forced to navigate in an economic environment where they have absolutely no idea what policy the administration is going to announce next," Conine said. "We also have absolutely no idea in government."
Conine believes the tariffs could impact a lot of things here in silver state, but the tourism industry is a major concern for him.
"When the country is uncertain and the footing of the country is less unstable, the first thing they do is cancel their trips and when they cancel their trips the impact to the state's budget which more than a third comes from gaming taxes coming from the taxes of people who come here to consume," he said. "When those people don't come we get hurt."
Conine is in charge of about $10 billion of funds for the state.
He believes tariffs could impact car prices, groceries, and house building markets and also, current legislation lawmakers are trying to pass.
"But all of those efforts including any plan that the Governor or the legislature may have to address housing all those efforts get more expensive with tariffs like this," Conine said.
Some think tariffs can be a good thing for negotiations with trade, especially for China.
Washoe County GOP Chairman Bruce Parks sent us a statement saying, "The trade imbalance with China has existed for far too long so I am happy to see that our President is finally addressing this problem. Every President since Nixon has been aware that China is taking advantage of the United States, yet none of them did anything about it. I can only say; It’s about time!"
