On Tuesday, March 4th, Farmers for Free Trade and the World Trade Center Denver co-hosted a Tariff Town Hall to address the economic ramifications of newly imposed tariffs on Colorado’s economy. The event brought together local farmers, business owners, and economists to discuss the widespread impact of these tariffs across various industries.
Key Takeaways:
Trade Partnership Worldwide unveiled an analysis estimating that the latest tariffs on imports from Canada, China and Mexico could cost Colorado businesses approximately $1.4 billion annually—nearly quadrupling the state’s current tariff burden.
Panel Discussions: Industry leaders shared insights on how these tariffs are affecting their businesses and the broader state economy. Featured speakers included:
- Kishore Kulkarni – Professor of Economics, Metropolitan State University of Denver
- Jeremy Petersen – Founder, President & CEO, Identity Pet Nutrition
- Gail Ross – COO, Krimson Klover
- Sandra J. Payne – President, Denver Concrete Vibrator (DCV)
- Nicholas Colglazier – Executive Director, Colorado Corn Council
Media Coverage Highlights:
CBS News Colorado: Business owners, economists discuss potential impact of tariffs on Coloradans “Colorado could be impacted to the tune of $1.4 billion. Consumers will face higher prices, and some producers will struggle with increased costs,” said Kishore Kulkarni, an economics professor at MSU Denver. “It could be even higher.” Small business owners, like Jeremy Petersen of Identity Pet Nutrition, brace for worst-case scenarios as they anticipate significant price hikes.”
9News – NBC: ‘It’s just not a good situation’: Colorado businesses react to tariffs “At a town hall on Tuesday, business owners warned of the serious challenges ahead. Jeremy Petersen, whose pet food company manufactures entirely in Canada, expects a 30% price increase due to tariffs.”
Denver Post: Colorado business owners, industry leaders fret over fallout from tariffs “The town hall, hosted by Farmers for Free Trade and the World Trade Center Denver, featured voices from agriculture and industry, all expressing concern about the financial strain new tariffs will impose.”
The Colorado Sun: New tariffs are estimated to cost Colorado $1.4 billion a year. Consumers could feel the pain soon “Sandra Payne, president of Denver Concrete Vibrator, learned firsthand how tariffs are affecting her costs. ‘A product we use went up by 25%, adding $675 in tariffs to a $3,100 order. We don’t want to keep raising prices, but margins are tight.’”
The Denver Gazette: Tariffs could quadruple what Colorado already pays for imports, report says “Under previous trade agreements, Colorado paid relatively low tariffs. The new tariffs significantly increase the burden, raising costs for producers and consumers alike.”
Looking Ahead:
As Colorado businesses and farmers face mounting costs from tariffs, stakeholders continue to push for policy changes to mitigate economic strain. Stay informed by reading the full Colorado Tariff Impact Report.
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