Cole's French Dip, a restaurant in downtown Los Angeles for over a century, announced its permanent closure, which some business leaders relate to tariffs. These tariffs' unpredictability and uncertainty hinder businesses from making deals, budgeting, and investing in expansions. California's economy, if viewed as a country, ranks fourth globally, amplifying the tariffs' impacts. Key figures, including Jason Hodge and California Attorney General Rob Bonta, voiced concerns about how these trade policies have adverse effects, causing job outsourcing and discouraging investment among companies.
Nella McOsker stated that while tariffs aren't the sole reason for Cole's French Dip closure, they are a contributing factor. The unpredictability and uncertainty created by tariffs hinder business decision-making, affecting investments and expansions.
California Atty. Gen. Rob Bonta described the impacts of tariffs as 'devastating,' noting that they create unpredictability that prevents businesses from budgeting and making long-term plans.
Jason Hodge expressed concern over the ripple effects of the Trump administration's trade policy, emphasizing that uncertainty is detrimental, affecting local jobs and discouraging investment.
The economic significance of California as a major importer and exporter magnifies the impact of tariffs, with substantial effects on local businesses and the overall economy.
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