Tampa Bay Times Says It Will Cut About 50 Jobs Because of Trump's New Tariffs
The Tampa Bay Times announced Wednesday that it will be cutting about 50 jobs because of the U.S. government's new tariffs
"[The] U.S. government piled huge tariffs onto the imports of newsprint from Canada, including those from our biggest supplier," Paul Tash, the CEO of the Pulitzer Prize-winning paper, wrote last month. "As a result, the price will jump from $600 to $800 for every ton, and we use about 17,000 tons every year."
He continued: "That increase is more than 30 percent, and would add more than $3 million to the Tampa Bay Times’ annual newsprint bill."
In January, the Commerce Department announced that it would be raising tariffs on Canadian paper. According to CNN, the United States imported 1$.3 billion worth of paper from Canda in 2016.
A spokeswoman for the paper confirmed to Tampa Bay Business Journal that the new layoffs were a result of the tariffs. The Journal also noted that the Times has been struggling financially for years.
Traditional newspapers across the country have been struggling in recent years, and many are worried that the decline in local journalism could negatively impact civic engagement.
Though the Trump administration has embraced tariffs as a way to look tough on trade, analysts have long found that this policy can seriously disadvantage workers. If Trump doubles down on tariffs, the Tampa Bay Times' layoffs may just be an early warning sign of what's to come.