LOUISVILLE, Ky. — Kentucky business experts said higher prices on goods and potential job losses could come because of President Donald Trump’s recently announced tariffs on Canada, Mexico and China.  

Trump announced a one-month pause Monday on duties on goods from Mexico and Canada. As of now, tariffs on imports from China are set to go into effect Tuesday.

“We're very concerned about the tariffs that have been announced,” said Sarah Davasher-Wisdom, president and CEO of Greater Louisville Inc. “We expect the impacts to be felt primarily in agriculture, energy, manufacturing and bourbon as well. That was one of the industries that was called out in the tariffs, and that's a concern because the bourbon industry is a $9 billion impact in Kentucky.”

The tariffs come as leverage by the U.S. to combat illegal immigration and the import of fentanyl.

“What we know for Kentucky businesses is that tariffs have never worked,” said Ashli Watts, president and CEO of Kentucky Chamber of Commerce.“What we know for Kentucky businesses is that tariffs have never worked,” said Ashli Watts, president and CEO of Kentucky Chamber of Commerce. “Trade is good for the Kentucky economy, and especially when we look to Canada, Canada as our top trading partner here in Kentucky.”

The Kentucky Chamber of Commerce estimated these tariffs will cost the average Kentuckian up to $1,200 per year. There is also concern of job loss from impacted businesses on top of higher costs. 

“I can say with pretty much certainty that there would be layoffs," Watts said. "We don't know exactly how it will impact every single business, but when businesses are hit that hard with that high of a tariff, we are likely to see a dip in the economy. And of course, that would result in potential job loss." 

There is still uncertainty on what these tariffs will look like in their final form and how quickly people could see prices rise at the grocery store or car dealership.