President-Elect Donald Trump has leaned back into his talk of tariffs, just as he did during his first term as president, but there are still too many unknowns for Alabama's officials to become concerned over the Port of Mobile's economic interests, reports AL.com's John Sharp.
Trump has said he'll issue an executive order to impose steep tariffs on goods from Canada, Mexico and China. He's using the tariffs -- or the threat of tariffs -- as a bargaining tool, for example, to pressure Canada and Mexico to crack down on illegal drugs and illegal immigration.
But as an economic tool, tariffs are certainly not a historic favorite among conservatives and free-market types. While targeted tariffs can give some U.S. companies a competitive boost by reducing foreign competition, they can mean higher prices for U.S. consumers, and by reducing trade they can sting the businesses and people who bring those foreign goods to us.
Which is why there might be Port of Mobile concern. The port's economic impact on Alabama has been measured at around $98 billion.
After a speech touting the port's growth and economic impact, Gov. Kay Ivey said she's waiting to see what happens on tariffs but that "Alabama has a friend in Donald Trump."
Port Authority CEO John Driscoll also said there are just too many unknowns but that the tariffs Trump has mentioned will surely affect freight at the port.
