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A toy importer is delaying a new warehouse in Keene, while a steel fabricator in Greenfield worries other projects could dry up if Trump’s tariffs stifle economic growth.
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U.S. stocks fell a day after posting spectacular gains over President Trump's decision to pause many of his tariffs. Now, some of that relief is fading.
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The president announced he would raise tariffs on China to 125% "effective immediately" but said he was pausing big hikes on other U.S. trading partners to allow time for trade negotiations.
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Dave Kemp, director for the New Hampshire Maple Producers Association and owner of D & D Maple Supplies in Jaffrey, New Hampshire, expects his annual “working vacation” to be consumed with questions over the impact of the Trump administration’s imposition of 25% tariffs on Canada will have on northern New England’s maple syrup industry.
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Newly imposed 25% tariffs on imported steel and aluminum will ripple through the local economy, creating winners and losers.
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Investors appear increasingly worried about the impact of tariffs on the U.S. economy.
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For now, gasoline and heating fuel will likely see the most immediate changes. It still remains to be seen whether the tariffs apply to electricity.
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The newly imposed import tariffs threaten a major economic link for New Hampshire and the rest of the region, with consumers bracing for higher prices.
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New Hampshire Gov. Kelly Ayotte said Canada is a valuable trade partner. Ayotte says businesses worry about possible tariffs.
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The auto industry has built a North American supply chain that ping-pongs parts between the U.S., Mexico and Canada. Tariffs of 25%, if actually imposed, would be costly for buyers and the industry.