Washington – Saba:
U.S. media reported on Tuesday that the United States may lose billions of dollars in revenue due to declining tourist inflows and the avoidance of American goods following the imposition of tariffs.
According to Bloomberg estimates, the U.S. economy could forfeit around $20 billion from reduced tourist spending on domestic goods.
Investment bank Goldman Sachs predicted that in a worst-case scenario, the U.S. could suffer losses nearing $90 billion, approximately 0.3% of its GDP.
Data from the U.S. Department of Commerce shows a 10% drop in foreign arrivals in March compared to the same period in 2024.
Among the reasons for waning interest, as noted by Bloomberg, are stricter airport detentions of tourists and newly imposed export tariffs.
Adding to the backlash, President Donald Trump’s controversial remarks suggesting that Canada could become the 51st U.S. state have notably reduced the traditionally strong tourist flow from Canada.
On April 2, Trump announced a sweeping tariff policy affecting products from 185 countries and regions. A flat 10% tariff went into effect on April 5, while country-specific tariffs were implemented on April 9.
Additionally, the U.S. imposed a 25% tariff on all imported cars starting April 3.
On April 9, Trump announced a temporary 90-day suspension of retaliatory tariffs on several countries and regions. The White House clarified that during this negotiation period, a uniform 10% tariff would be applied.
| more of (Economy) |