Better trade deals for North Carolinians means excluding nonessential industries

Now that Donald Trump has taken the oath of office, expectations are high among his supporters in North Carolina and across the country. Those supporters are eager for him to clean up the mess left behind by his predecessor. I hope his next four years in office will be an economic windfall for the nation, and Trump can make that a reality through strategic, sensible economic policies.

A crucial step Trump promised on the path to prosperity includes negotiating better trade deals. Like any good deal, pragmatism should be involved, especially regarding the president’s proposed tariffs on China, Canada and Mexico. As the author of “The Art of the Deal,” Trump is the man we want at the negotiating table.

He is right to push for a more fair playing field with these trading partners. However, unless certain industries are excluded, there is a risk of forcing higher prices on North Carolina families with tariffs alone.

Inflation has been no joke in North Carolina; a High Point University study found that 52% of residents said inflation concerns were affecting their spending decisions. A price increase due to tariffs would hurt North Carolinians trying to rebuild their lives and finances, many of whom voted for Trump in the fall.

We’ve already seen evidence that Trump is looking closely at how best to achieve his desired outcomes on issues across the board without negatively impacting everyday Americans. Tariffs are no different, and it is clear that Trump wants to utilize tariffs to achieve his goals without harming regular, nonstrategic consumer goods.

By excluding nonessential sectors that don’t pose a security threat to the United States, he greatly reduces the risk of inflating prices for Americans who have suffered enough paying for expensive goods. Toys, for instance, are mainly produced in China and Mexico before being exported to the U.S. Those countries have the infrastructure to deliver safe, inexpensive, quality toys.

A broad tariff policy could easily hike those prices for families here. Toys are not the strategic industry Trump is after, but sweeping tariffs could wipe out small businesses and jack up prices at more prominent brands, leaving consumers with fewer options and higher prices.

This scenario contradicts Trump’s campaign promises to keep prices down for American consumers. Children and small retailers shouldn’t be caught in the crossfire of a trade war, but only applying tariffs to sectors with high stakes can guarantee such an outcome never happens.

Trump soundly won North Carolina because voters are confident that he will deliver on stabilizing the economy. I firmly believe in better trade deals to help accomplish this, just as the president will do the right thing and apply his tariffs wisely when negotiating.

Brandon Barnes is CEO of Capital Games LLC in Raleigh.