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There is nothing remotely freeing about April 2, the day Donald Trump coined “Liberation Day” by signing an executive order implementing tariffs on about 60 countries worldwide. Despite his intentions, the only things being liberated are the bills from our wallets and the success of the stock market.
Tariffs, or a tax businesses pay on products imported or exported from other countries, have existed for a long time. Using tariffs this widespread and simultaneously? I’m not sure if that’s a tried-and-true plan, and by the looks of our economy right now, I’d guess it’s not exactly sound.
The Liberation Day executive order essentially outlined two tariff plans, the first being a base-line tariff of 10% applied to almost all imports — except those from Canada and Mexico. The second plan is a reciprocal tariff system, in which 57 countries that have high tariffs themselves or have economically hurt the U.S. will receive a tariff. That tariff percentage is determined upon the U.S. trade deficit — the difference between what we sell to a country and what we buy from it.
“Though the university hasn’t addressed the tariffs yet — and though I doubt they ever will — I’d expect the first major change to happen in CSU’s meal plans.”
The countries most affected by these tariffs include China, Japan, India, Germany, Vietnam, South Korea and Taiwan. But of course, Trump needed to reach virtually every corner of the Earth with this executive order, so the list went so far as to include Heard Island and McDonald Islands, home only to large populations of seals and penguins. Truly, so thoughtful of him.
All of this was intended to drive prices upward and force U.S. companies to produce their products within the U.S., allegedly creating more jobs and pushing up wages. In actuality, Liberation Day has sent the stock market and economy into the worst state we’ve seen since the 2020 COVID-19 pandemic.
What does this mean for Colorado? Well, first off, imported product prices will steeply incline, likely similar to every other state in the nation. This will put a stronger reliance on local Colorado farmers to produce more crops for comparably cheaper prices, but unfortunately, it’s not that simple. Farmers use fuel, machinery and other tools on the day-to-day that tariffs will likely impact, thus driving up their product costs, too.
Additionally, Colorado’s top trade partners are Canada, China and Mexico. Of the three, China will receive the largest tariff of 34%. Canada, sitting at a 25% tariff, is the largest U.S. importer of malt barley, the key ingredient in beer. As Rocky Mountain PBS explained, such a tariff could have detrimental impacts on the success and longevity of breweries in Colorado, a huge attraction and source of income for much of the state.
What does this mean for Colorado State University students specifically? Though the university hasn’t addressed the tariffs yet — and I doubt they ever will — I’d expect the first major change to happen in Colorado State University’s meal plans.
CSU prides itself on having a diverse menu, with restaurant concepts such as The Foundry’s “Comida” and “Passport” and Durrell Center’s “Bento Sushi.” These locations often feature a wide variety of cuisines and cultures, but cuisines that likely rely on imported ingredients. Students could potentially expect to see either a change in meal plan quality and diversity or a change in meal plan pricing.
You might also want to take the bus to class because gas prices are going to soar; Suncor, Colorado’s singular oil refinery in Commerce City, Colorado, is based in Canada and makes up 40% of our petroleum market, so the tariffs will greatly impact prices.
And save those flimsy coupons, too — the ones attached to grocery store receipts or found in junk magazines. Living through an era of financial devastation as an already-broke college student means there’s no shame in being a penny-pincher.
In all seriousness, I’m not sure if we’re about to live through a major recession — the stock market isn’t looking good, the news is up in flames and conservatives left and right are rebuking the man they voted for. Nothing seems fully right in the world, but I’m trying to take each moment day by day and do something cost-free that provides me a moment of peace.
Reach Emma Souza at letters@collegian.com or on Twitter @_emmasouza.
