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Tariffs: How and Why They Impede Success in the State of Nebraska By Joe Kohout

Explore the effects of tariffs on Nebraska's agricultural and manufacturing sectors, including lost jobs and increased prices. Learn why tariffs impede success and how to encourage free trade.

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Tariffs: How and Why They Impede Success in the State of Nebraska By Joe Kohout

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  1. Tariffs: How and Why They Impede Success in the State of Nebraska By Joe Kohout Managing Partner at Kissel, Kohout, ES Associates LLC

  2. What Will Be Discussed? • What is a tariff and why has there been so much discussion about them • How tariffs affect the agricultural industry in Nebraska • How tariffs affect the manufacturing industry in Nebraska • Tariffs and their relationship with lost jobs

  3. Tariffs

  4. Consequences of Imposing Tariffs • Trade barriers are erected • Commercial Products become more expensive due to the imposed import tax • Trade wars are encouraged • Fewer people reap the benefits of free trade

  5. Nebraska Agriculture 1. Nebraska houses one of the largest agricultural industries in the United States. 2. The United States Department of Agriculture states that Nebraska will be among the five states hit the hardest by tariffs on agriculture. 3. Prices for corn, soybeans, pork, and other products have already been effected. 4. Farm revenue declined between $700 and $1 Billion in 2018.

  6. Nebraska Manufacturing • Tariffs imposed against Mexico, Canada, and the EU were set at 25% on steel and 10% on aluminum in 2018. • Experts have said that these tariffs will result in higher prices. • Nebraska manufacturers have already lost sales.

  7. Tariffs and Their Relationship to Lost Jobs • Agricultural tariffs have costed $164 to $242 million in lost labor income. • Agriculture tariffs have also contributed to 4,100 to 6,000 jobs being lost. • Regarding the manufacturing industry, a long-time manufacturing executive in Nebraska predicts that an astounding 27,000 Nebraskans could lose their jobs.

  8. In Conclusion, Tariffs Impede Success • We should be facilitating free trade, not discouraging it. • Agriculture has been and will continue to be hit hard. • Manufacturing is not immune to the effects of tariffs. • The jobs of real people are being lost. Solution: Encourage free trade by removing barriers.

  9. Contact Information Joe Kohout Email: jkohout@kisselkohoutes.com Cell Phone: (402) 670-3576

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