Prof. Paul Vaaler Interviewed on WCCO News About Tariffs Affecting Minnesota’s Small Businesses

Professor Paul Vaaler, John and Bruce Mooty Chair in Law and Business, was interviewed by WCCO News about how the administration’s trade tariffs could adversely affect Minnesota’s small businesses. New tariff rates are set to go live next month, but the effects on Minnesota small business owners could be felt in a matter of days. But the proposed and then delayed tariffs and changing tariff rates is one of several problems small business owners are experiencing due to the proposed tariffs. Prof. Vaaler said, “That’s the worst part, is the uncertainty that it creates.” He added, “For Minnesota businesses, we should care a lot about three things, three countries, Canada, Mexico and China, as they are three of the biggest sources so far.” He’s particularly worried about imported metals and all the Canadian fuel for energy, which could mean big problems for small businesses. “They don't have the margins to eat that the stock, the credit line to hold them over.” He said the worst case is “bankruptcy,” and the best case “would be threats but not actual tariffs.”