News 3: Trump announces 125% tariff on Chinese imports, sparking Nevada concerns

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by Will Payne

Thu, April 10th 2025 at 11:35 AM

Updated Fri, April 11th 2025 at 8:43 AM

Nevada Treasurer Zach Conine hosts press conference on Wednesday, April 9 in Carson City on President Trump's tariffs (Will Payne/KRNV)

The three-month timer on most of President Trump's reciprocal tariffs is now ticking, but the President made another announcement on Wednesday: a 125% tariff on Chinese imports. This decision came just hours after China increased its tax on American imports to 84%.

The economic move received strong feedback from Nevada Treasurer Zach Conine. "Any business that is getting something from China is going to be paying more than double for it... Barber shops are gonna be more expensive. Restaurants are gonna be more expensive. If you are in the retail business, if you sell clothing. It is going to get more expensive," Conine said.

Conine hosted a press conference on Wednesday to discuss the Trump administration's tariff policy and its potential impact on Nevada's budget and residents. He highlighted that one of the first revenue streams to be affected would be the state's travel industry, predicting a dip in funds from the gaming tax. "When (people) have less money in their discretionary budgets, often, travel to Nevada gets hit first," said Conine.

The treasurer also expressed concern that the tariffs might force the state to dip into its rainy day fund to pay for crucial services. As Nevada's economic forum prepares to meet again on May 1, Conine emphasized the importance of careful financial planning. "As the person that spends the most time thinking about what the state's going to look like 10 years from now financially, I want to make sure we're providing as much counsel and advice there," Conine said.