Sandy K. Baruah President and Chief Executive Officer at Detroit Regional Chamber | Twitter Website
Sandy K. Baruah President and Chief Executive Officer at Detroit Regional Chamber | Twitter Website
Southeast Michigan's economy remains strong, supported by a prosperous business environment, as reported by the Detroit Regional Chamber in its annual State of the Region report. However, the region is lagging behind its peers in several key metrics, such as educational attainment, population, jobs, and GDP.
The report indicates that the manufacturing-reliant region ranks in the bottom third for these metrics. A notable concern is the inflation affecting the 11-county region. Households have experienced decreased purchasing power since the COVID-19 pandemic began in early 2020, compounded by tariffs imposed by the Trump administration.
Auto companies and others are particularly anxious about the effects of a 25% tariff on Canada, Michigan’s largest trading partner. Similarly, a 25% tariff on Mexico poses challenges, given its vital role in the manufacturing supply chain.
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