Bill > SB304

This bill directs the commissioner of the Department of Business and Economic Affairs to prepare a comprehensive report on the potential economic impacts of a proposed 25% tariff on Canada, focusing specifically on how such tariffs would affect New Hampshire residents and businesses. The report, to be submitted by October 1, 2025, must analyze the specific cost increases for goods and services, the number of jobs potentially impacted, and the revenue losses for New Hampshire businesses. The bill highlights the significance of trade with Canada, noting that it is New Hampshire's top export market with $1.4 billion in annual goods exported and $2 billion in goods imported, including critical items like fuel oil, fish, and wood products. The legislation emphasizes that 182,000 New Hampshire jobs depend on international trade and that Canadian officials warn the tariffs could lead to higher costs for residents across various sectors, including gas, seafood, groceries, produce, durable goods, and housing production. The report will be presented to key state officials and the state library, and will also be published online, providing transparency about the potential economic consequences of the proposed tariffs.

Government Affairs

https://gc.nh.gov/bill_status/legacy/bs2016/bill_docket.aspx?lsr=1161&sy=2025&sortoption=&txtsessionyear=2025&txtbillnumber=SB304