Paychecks come from all kinds of places. Here in Washington State we have a lot of farmers and growers of various crops. We send those crops all over the world, and in the process, we get caught in the middle of political squabbles. These fights have nothing to do with us but they affect our Paychecks anyway. Fortunately, there’s a new report that has some great news for local growers!
Here are five Fast Facts about Indian tariffs going away:
- 1️⃣ Leading The Pack - Washington State produces the most apples and chickpeas of any state in the nation, and the third most lentils. Eating healthy? We’ve got you covered!
- 🍎🍏 How ‘Bout Them Apples? - India used to be the second largest market for our apples, with revenues of around $120 million per year. Lots of juice in that squeeze… (yes, we went there!)
- 🤜🤛 The Tariffs - In 2017, the US put tariffs on steel and aluminum from India. In response, India put tariffs on several US crops, including apples, chickpeas, and lentils. This cut Washington State apple exports to India by over 99% to less than $1 million last year. OUCH.
- 📉 Other Crops Took A Hit - Along with apples, our other crop exports dropped from about $180 million down to less than $1 million. OUCH X2.
- 🎉 Recent Developments - Through sustained efforts by our political reps, India has now agreed to lift those tariffs, once again opening up India to our growers! Cool, they’re good for something after all (the politicians, that is)!
🔥Bottom line: This is obviously great news for our markets, and therefore our Paychecks! We think things like this are what our elected reps should do, so we’re glad to see them do it.
What are your thoughts about this development?
Let us know by connecting with us on Facebook and Instagram! Also, remember to share this newsletter with your friends & coworkers!
BTW, If you’ve read this far and haven’t yet signed up for the weekly Paycheckology newsletter, CLICK HERE!
