Q&A: How the Broken Arrow Chamber is prepping businesses for new tariff impact

President Donald Trump imposed a 10% tariff on Chinese imports this week. China is preparing to retaliate with its own tariffs next week.

This move will likely lead to higher costs for products like cars, crude oil, and machinery in the United States.

We spoke with James Bell, President and CEO of the Broken Arrow Chamber of Commerce, who shared how the Chamber is preparing local businesses for the impact of increased tariffs.

Q: How is the Broken Arrow Chamber of Commerce responding to these tariffs?

A: The Broken Arrow Chamber of Commerce isn’t taking a stance on the policy itself. Instead, they are focusing on supporting local businesses as they navigate supply chain and trade challenges. The Chamber is working closely with local manufacturers to understand their concerns and help them adapt.

Q: What impact do tariffs have on Broken Arrow’s businesses?

A: Manufacturing is a key part of Broken Arrow’s economy, with over 300 businesses in the sector. Bell explains that many local manufacturers rely on both imports and exports. Tariffs could increase costs for these businesses, affecting both them and their customers.

Q: How are local manufacturers responding to these challenges?

A: Bell notes that manufacturers in Broken Arrow often send products back and forth across borders. Any increase in costs could ripple through the supply chain. However, some business owners are seeing the tariffs as an opportunity. Bell mentions businesses may view higher tariffs as a reason to invest more in U.S.-based production, potentially leading to job growth in the area.

Q: What can consumers expect from these tariff changes?

A: Consumers may notice price increases on various goods, including raw materials, cars, agricultural products, and electronics. The exact impact on prices will depend on how businesses adjust to the tariffs. Some may seek alternative suppliers or improve efficiency to minimize cost increases.

Q: What is the Chamber doing to help businesses during this time?

A: The Broken Arrow Chamber is proactively reaching out to local businesses to offer support and keep them informed about upcoming changes that could impact their operations and customers.

Q: When are these tariffs set to take effect?

A: The new tariffs from China are expected to go into effect on Feb. 10.