This podcast is a recording from the January 22, 2025 Bryan/College Station chamber of commerce economic outlook conference.
Those attending the Bryan/College Station chamber of commerce economic outlook conference heard about the impact of the president's proposal to increase tariffs.
Economist Lori Taylor, who is a department head at Texas A&M's Bush school, expects "substantial increases" in the price of a new vehicle. She recommended buying a new vehicle in the next month to avoid higher prices caused by the increased cost of components that are imported to manufacture vehicles.
Taylor also said the increased tariffs vary. For instance, the tariff on cotton shirts is different than silk shirts, the tariff on cotton suits is different than wool suits, and the tariff on men's golf shoes is five percent while the tariff on women's golf shoes is 10 percent.
Taylor showed a slide in her presentation stating if increased tariffs are implemented, the impact in the Brazos Valley includes: