Trump Tariffs Clobber Oregon Economy, Exacerbate Slowdown

Oregon's economy has been impacted by President Donald Trump's tariffs, which have exacerbated an existing slowdown in the state's economic growth. According to a new report released by Gov. Tina Kotek's office, the Trump administration's tariffs contributed to a $442 million loss in Oregon's 2025-27 budget cycle.

The report found that Oregon importers paid nearly $3 billion in tariffs between March and December 2025, with over 60% of those costs stemming from tariffs imposed under the Trump administration. The state economists estimate that these tariffs reduced consumer demand and spending, corporate profitability, and labor income that would have gone towards the state's general fund, lottery earnings, and corporate activity tax.

The report also noted that Oregon's exports fell by 17% in 2025 compared to 2024, while imports rose. This trend is unique to Oregon, with nearly three-quarters of all goods exported going to Mexico, Canada, China, Hong Kong, Southeast Asia, Japan, and Korea. The state economists attributed the change to tariffs, saying that impending tariffs incentivized many Oregon businesses to stock up on as many international goods before the new rates took effect.

Businesses in Oregon are feeling the impact of tariffs, with nearly 60% of respondents to a randomized survey saying that the cost of domestic products went up due to tariffs. Over 40% said they increased prices of the products they sold in the US because of tariffs.