trade

Thomas Hart / Flickr Creative Commons

The economic outlook for Colorado Springs and El Paso County continues to be positive. According to a forecast by Dr. Tatiana Bailey with the University of Colorado-Colorado Springs, the gross metropolitan product (GMP) is expected to grow faster than the national GDP by about 1 percent, as it has steadily done for the past few years. 

Farmers and agriculture groups are digging through the details of the new North American trade deal, called the United States Canada Mexico Agreement, and some are raising concerns that clash with the celebratory mood of the three countries’ leaders.

Updated at 3:45 p.m. ET

The U.S. and Canada reached a deal to replace the North American Free Trade Agreement, signed a quarter-century ago, with a new pact that the Trump administration says is easier to enforce.

In remarks in the Rose Garden formally announcing the agreement, President Trump called it "the most important trade deal we've ever made by far."

Ahead of a midnight deadline set by the White House, Trump approved changes that essentially revamp the 1993 NAFTA deal, bringing Canada on board after Mexico had already agreed in August.

Back in 2012, one of the major employers in Montrose, Colorado, a sawmill, was in receivership and on the brink of collapse. At the time, local media reported that the cost of logging timber had become prohibitively expensive, and the log yard was nearly empty.  

These days, logs are stacked high next to a humming mill. Production is up 20 percent from even just 2016.

Updated at 8:15 a.m. ET

As the day dawned across the U.S. on Friday, a new economic reality dawned with it: The tariffs long threatened against billions of dollars in Chinese goods took effect just at midnight ET while many Americans were sleeping — but Beijing was ready immediately with a wake-up call of its own.

Today, the Chinese government announced tariffs on 128 American products, including food. Pork will be taxed 25 percent, and wine, dried fruit, and nuts are now subject to a 15 percent duty.

The announcement comes in response to the tariffs President Trump recently imposed on steel and aluminum. Trade officials from each country are negotiating, and it's not yet clear how long the duties will be in effect, or what the lasting impact will be for American producers and growers.

The Chinese government has retaliated in what appears to be an escalating trade war. The government says it will slap tariffs on a long list of American goods including pork and fruit, a move that could put producers across the region in a bind.

China buys a lot of American pork. And while Iowa may be this country’s pig-producing colossus, tariffs would hit producers everywhere, including states in the Mountain West like Utah and Colorado.