New imported goods taxes could cost SC business and jobs.

President Trump’s 25% steel tariff and 10% on aluminum began June 1.

These new taxes may negatively impact manufacturers here.

For example, BMW employs over 8,000 people in Greer and 30,000 people statewide. They’ve invested over $6 billion in the state since coming to Spartanburg County in 1992.

SC Chamber of Commerce CEO Ted Pitts of Lexington said,“70% of the vehicles made in Greer are shipped from Charleston, made for other markets.

“If you look at the tariffs the government is trying to impose, that could mean a $3 billion impact on the state’s economy.” A US Chamber of Commerce study supports that estimate.

That number takes into account the retaliatory tariffs countries like Canada, China, and Mexico are imposing on our goods as well. They would make American products more expensive.

Higher expenses could drive major employers like Michelin, Volvo and Boeing to increase production at their factories outside of SC.

That threatens the 600,000 jobs tied to imports in the state, Pitts says.

SC businesses buy a lot of steel from abroad - $550 million worth of aluminum and steel in 2017. A Tax Foundation study revealed the new tariffs would increase that cost by $106.7 million.

The goal of the June tariffs may be to drive steel and aluminum purchasers to domestic producers. But expert tooling manufacturer Anthony Tosti says most steel is highly customized to individual projects.

The US metal industry is “not nimble enough for manufacturers to shift all their purchasing stateside,” Tosti says.