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Governor Kathy Hochul convened a roundtable with New York farmers on Monday (March 3) to discuss the impact of the Trump Administration's new tariffs on international trade. The tariffs, which impose a 25 percent duty on goods from Canada and Mexico and a 10 percent tariff on Canadian energy resources, are expected to increase costs for the average New Yorker by up to $1,200 annually.
During the meeting, Hochul emphasized the importance of agriculture to New York's economy and pledged her support to the farming community. "From the North Country to the Southern Tier, farmers are the backbone of New York State," she stated. Hochul encouraged businesses, including farms, to report the effects of these tariffs to TariffImpact@esd.ny.gov to help the state understand their impact.
Governor Hochul highlighted that agricultural spending has increased by 60 percent since she took office, and she has implemented several cost-saving initiatives to support farmers. These include a fully refundable investment tax credit, an overtime credit, and a workforce credit.
New York State Agriculture Commissioner Richard A. Ball expressed gratitude for the Governor's efforts to bring together key agricultural community members to address these challenges. He noted that hearing directly from farmers provides valuable insights for the state to better support the agricultural sector.
The tariffs are expected to affect New York's agricultural industry significantly, as many farmers rely on export sales. Hochul plans to use the information gathered from farmers to advocate for them at the federal level, aiming to mitigate the tariffs' adverse effects on the state's economy.