NH businesses react to Supreme Court ruling on tariffs

WELCOME BACK TO CLOSE UP. AS YOU HEARD US DISCUSS ALREADY WITH FORMER SENATOR SUNUNU, THERE’S A LOT OF NOW WHAT UNFOLDING AROUND THE SUPREME COURT RULING ON TARIFFS AND HOW THE MONEY COLLECTED BY THE GOVERNMENT SHOULD BE RETURNED TO THOSE WHO PAID THE TAXES. OF COURSE, GRANITE STATE COMPANIES AND CONSUMERS ARE AMONG THOSE WHO FOOTED THE BILL. FOR THE LAST YEAR, WE CONNECTED WITH THE BUSINESS AND INDUSTRY ASSOCIATION OF NEW HAMPSHIRE TO FIND OUT HOW ITS MEMBERS ARE REACTING. IT BRINGS SOME LEVEL OF CLARITY TO THE TARIFF PICTURE, BUT THERE’S STILL A LOT OF BIG QUESTIONS THAT REMAIN UNANSWERED FOR THE TIME BEING. THE IIPA OR INTERNATIONAL EMERGENCY POWER TARIFFS ARE NO LONGER IN EFFECT, AND THOSE TARIFFS WERE WHAT WERE INITIALLY ANNOUNCED ON LIBERATION DAY AND VARIED GREATLY AND HAD SOME HIGHER TARIFF LEVELS TO THEM, DEPENDING ON WHICH COUNTRY. NOW WE’RE LOOKING AT MORE OF A 10 TO 15% ACROSS THE BOARD GLOBAL TARIFF, BUT WE’RE UNSURE HOW LONG THAT’S GOING TO LAST AND WHETHER THAT CONGRESS MAY HAVE TO WEIGH IN AT SOME POINT, WHETHER THAT WILL CONTINUE. SO IN THE BIG PICTURE RIGHT NOW IS LOWER OVERALL TARIFF RATE, BUT PROBABLY SOME DECISIONS UPCOMING IN THE FUTURE, WHETHER THAT WILL CONTINUE AND AT WHAT LEVEL. MICHAEL SKELTON BELIEVES THERE’S LIKELY TO BE MORE LITIGATION AHEAD AT THE NATIONAL LEVEL, AS BUSINESSES AND THE GOVERNMEN