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New York Governor Kathy Hochul is reaching out to business owners across the state to gather feedback on how tariffs have affected their operations. She announced a survey aimed at understanding the impact of tariffs, particularly those implemented during President Trump's administration, which have caused economic challenges for many businesses. Hochul also introduced a new tariff resource guide to help business owners navigate available programs and mitigate risks associated with these tariffs.
Governor Hochul expressed concern over the rising costs faced by small and mid-sized businesses, especially given New York's strong trade ties with Canada. The state has seen a decline in Canadian tourism and business due to the ongoing tariff trade war with its northern neighbor. According to EIN Presswire, cross-border traffic from Canada has significantly decreased, with 400,000 fewer Canadian visitors in May compared to the same period in 2024. Businesses reliant on Canadian customers, such as hotels and golf courses, are feeling the pinch.
Hochul has been vocal about the negative effects of the tariffs, warning that they could lead to increased costs for consumers and threaten the survival of New York's 32,000 family farms. She highlighted that tariffs on Canadian and Mexican imports could raise costs for families by $1,300 to $3,000 annually, potentially putting farmers out of business. Spectrum Local News reported Hochul's concerns about the broader economic impact, including potential cuts to federal programs that support agriculture and education.
As the state navigates these challenges, Hochul's initiatives aim to provide support and resources to businesses affected by the tariffs. The feedback from the survey will be crucial in shaping future policies and ensuring that New York businesses can thrive despite the ongoing trade tensions.