WA could lose billions in revenue from Trumps tariffs, new report says

A new state report warns that Washington could see grocery prices rise by over 16% if President Trump's proposed tariffs remain in effect. Families currently spending $6,000 on groceries may pay approximately $7,000 by 2027. The report, shared by Gov. Bob Ferguson during a press conference, estimates that nearly 32,000 jobs may be at risk, particularly in the agriculture and aerospace sectors. If the tariffs persist, Washington could lose $2.

2 billion in general fund revenue by 2029, and economic growth could decline by 1. 2% to 1. 8% per quarter. The report also projects increases in clothing prices by 7%, a 23% jump in used car prices, and higher utility costs. Ferguson criticized the tariffs, stating they harm working families and businesses in Washington.

The governor is exploring various state responses to the tariffs' potential impact, indicating ongoing conversations about withholding federal income tax collections. The state's next revenue forecast is expected soon, which could reveal immediate economic effects from the tariffs.