Gov. Youngkin supports Trump’s tariffs, even as Virginia’s farmers and businesses suffer

Gov. Glenn Youngkin expressed his support for the recent tariffs imposed by the Trump administration, yet experts say they could cost Virginia billions in rising prices.

While a recent poll found that more than half of all Americans disapprove of how President Donald Trump is handling the economy, Virginia Gov. Glenn Youngkin showed his support for the recent tariffs imposed by the current administration.

During an agricultural trade conference on Tuesday in Richmond, Youngkin spoke up in support of Trump, calling the massive layoffs and new tariffs that are impacting people across Virginia an “interruption.”

“We know, all around us, there’s an interruption that we’re dealing with as the President resets trade relationships around the world,” Youngkin said at the conference. “I do think this is a great opportunity for Virginia.”

Yet, in an April poll from CNBC News, 51% of Americans disapproved of Trump’s handling of the presidency and 55% disapproved of his handling of the economy. In another poll, 73% of Americans say they expect price surges under Trump’s tariffs.  

Since returning to the White House in January, Trump has levied tariffs on other countries at a frenetic pace and in a seemingly haphazard manner. He’s imposed 145% tariffs on China, and China retaliated by enacting 125% tariffs against American goods. Trump also levied a 25% tariff on Mexico and Canada.

While Trump insists that tariffs are paid for by foreign countries, the reality is that it’s actually importers—in other words, American companies—that pay tariffs. Those companies, in turn, typically pass their higher costs on to their customers in the form of higher prices. That’s why economists say consumers usually end up footing the bill for tariffs.

In 2024, Virginia imported $41 billion worth of goods and exported $22 billion worth of goods, according to data provided by the Virginia Economic Development Authority.

Virginia’s farmers in particular are confronting increased costs and market uncertainties due to the new tariffs. The US-imposed tariffs on key agricultural imports, such as potash from Canada, are raising expenses and disrupting deliveries for agribusiness firms. These disruptions can ripple through rural economies, notably in regions like the Shenandoah Valley. ​

Retaliatory tariffs from countries like China, Canada, and Mexico are further complicating matters. These nations have imposed additional tariffs on American agricultural products, including a 10% tariff on soybeans and fruit, and a 15% tariff on chicken, corn, and other farm products. Such measures threaten Virginia’s exports of soybeans, poultry, pork, and tobacco, potentially reducing demand and depressing prices paid to local growers. ​

Just this week, the auto manufacturer Volvo announced plans to lay off up to 800 workers across its operations in the US, including 250-350 people at the Volvo Trucks New River Valley Operations in Dublin. Trump’s tariffs are being blamed for the layoffs.

Youngkin has repeatedly stood in support of Trump’s economic agenda and tariffs.

In a recent interview with CNBC, Youngkin said that despite the tariffs, he is not feeling a sense of economic paralysis, but rather big moves in Virginia’s economic development deals. Youngkin suggested he was okay with Americans suffering in the near-term, if it paid off in the long run. 

“What we’re seeing is the long-term investment and the confidence in the long-term investment, which I think is reflective of the words we keep hearing out of President Trump, which is, listen, there’s a dislocation in the near term,” Youngkin said on CNBC. “There’s long-term opportunity.”

However, many economists disagree, saying the broader economic impact is significant. Estimates indicate that the tariffs could cost Virginia over $2.1 billion annually, raising prices on a wide range of goods, including food, clothing, and vehicles.