State Treasurers Urge End to Tariffs Amid Economic Concerns
MEDFORD, Ore. — State treasurers from Oregon, Illinois, Nevada, and Colorado are calling on the Trump administration to resolve its ongoing trade war with key partners Canada, Mexico, and China. Oregon Treasurer Elizabeth Steiner emphasized the significance of these nations in Oregon’s economy, which sees over $15 billion in annual exports to each. “Tariff price hikes are likely to increase the cost of items that consumers and businesses depend on,” Steiner warned in a press conference.
A recent study from the Peterson Institute for International Economics reveals that President Trump’s tariffs could cost the average American household more than $1,200 per year, a burden that could severely impact Oregonians, many of whom are unable to afford an emergency expense exceeding $500, according to the 2025 Oregon Financial Wellness Scorecard. “How can they afford an additional $1,200 on top of their expenses due to these reckless tariffs?” Steiner questioned.
Current tariffs imposed on Mexico and Canada are temporarily paused through April 2, following requests from major U.S. automakers. However, these trade tensions have already influenced stock market performance, with the S&P 500 down 5.67%, the Dow Jones falling 4.85%, and the Nasdaq suffering an 8.70% drop since early March.
Steiner criticized the government’s inconsistent tariff announcements, saying, “Businesses and individuals depend on government to act rationally and reasonably.” Vice President J.D. Vance acknowledged U.S. companies seeking exceptions to the tariffs but maintained a commitment to the administration’s strategy to bring manufacturing back to the U.S.
Steiner cautioned that the expedited return of manufacturing is unrealistic, urging the administration to collaborate with states like Oregon to lower prices, protect jobs, and restore economic stability instead of imposing further financial strain on households.
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