This page is a resource for Vermonters on tariffs enacted by President Trump. As of March 12, there is a 25% tariff on steel and aluminum from all countries and a 20% tariff on all imports from China.
Below you will learn more about tariffs, the Vermont Tariff Taskforce, data on Vermont trade, and find advice for Vermont businesses.
WHAT IS A TARIFF?
A tariff is a federal tax placed on imported goods. A tariff is sometimes referred to as a duty. Broad tariffs affect each sector differently and effects on products and businesses within a sector may also vary.
VERMONT TARIFF TASKFORCE
Vermont Commerce Secretary Lindsay Kurrle is leading the Vermont Tariff Taskforce created by Governor Phil Scott. The interagency group, made up of representatives from the Agency of Commerce and Community Development, Agency of Administration, Agency of Agriculture, Department of Public Service, and Department of Labor, is analyzing possible scenarios created by new tariffs and evaluating their potential impact on Vermonters and Vermont businesses. This analysis is being conducted using a fact-based, disciplined approach while keeping in mind the Governor’s top priorities for Vermont: housing, education, public safety, and affordability.
HOW IS THIS INFORMATION BEING USED?
Findings will be used to advise the Governor about the real and potential impacts of tariffs to keep Vermont businesses, communities, and residents informed.
ADVICE FOR VERMONT BUSINESSES
- Evaluate Supply Chain – what do you get and from where? What could possibly be affected by tariffs?
- Reach out to Suppliers – what costs can you expect from them? Are current contracts negotiable?
- Identify Alternatives – where else could you get your supplies and for what price?
- Communicate with Customers – tell customers what you are doing to manage the impact of these tariffs and keep costs in check, and how they might be affected.
- Be Nimble – new opportunities could arise because of tariffs. Be ready to take advantage of them.
- Stay Up To Date – monitor multiple news sources to stay up to date on what is happening in regard to tariffs.
VERMONT TRADE STATISTICS
Read the latest edition of "Kevin's Corner", a newsletter from Kevin Stapleton, Assistant Director of Economic & Labor Market Information for the state of Vermont. You will find data on Vermont imports, exports, trade partners, and more.
NEED SUPPORT?
Contact the Vermont Business Assistance Team. These experts in the Department of Economic Development will assist you and your business as best they can.