A monthly survey of San Diego companies finds one in four believe the growing tariffs on foreign imports and American exports will hurt their business.
The companies were polled in the San Diego Regional Chamber of Commerce‘s monthly business confidence survey.
Fifty-seven percent said the tariffs will have no effect, while 26 percent expect a negative impact. Thirteen percent see tariffs as positive for business.
The development and construction industry was most worried about tariffs, with 58 percent expecting a negative impact.
President Trump has imposed tariffs on a growing number of products, starting with steel and aluminium, and Canada, Mexico, China and the European Union have responded in kind.
“The San Diego region is especially vulnerable because of our highly developed integrated supply chains,” said Jerry Sanders, president and CEO of the chamber. “Even those whose jobs are not directly linked to an affected industry should be concerned.”
“Taxing imports is a tax on U.S. customers, because those costs are passed along to the buyer,” he added.
The survey was fielded Aug. 22-29 by Competitive Edge Research among 200 randomly-selected members of the San Diego, East County, Alpine, Escondido, Lakeside, Vista, Santee, Encinitas and National City Chambers of Commerce.