SAVANNAH, GA (WTOC) - President Donald Trump vowed during his campaign to get tough on trade deals that he says are unfair to the United States.
He wasted no time withdrawing from the Trans-Pacific Partnership during his first week on the job and has also talked about higher tariffs on imports that could have an impact here in Georgia where products are shipped into our port and also out to locations around the world every day.
Dr. Michael Toma is an economist and director of Armstrong State University's Center for Regional Analysis. He believes, while the forecast for Georgia and Savannah's economy is positive for 2017, a trade war could increase the risk of a recession.
"It is a potential risk factor for the U.S. economy to the extent that the tough talk becomes implemented in some way shape or form," said Dr. Toma. "So that is the big unknown, whether the tough talk translates into policy action is a separate matter from whether the trade is restricted."
According to the University of Georgia, around 370,000 working Georgians work in jobs that are directly affected by our ability to trade with the rest of the world.