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Tariffs increase costs, 'bad for consumers', says US state governor
Cox stressed that what businesses need most is certainty rather than frequent tariff shifts; 'people just want security; they just need to know what the rules of the game are'
- PUBLISHED: Fri 26 Jun 2026, 7:33 PM
Tariffs discourage investments and push up costs for consumers, said Utah Governor Spencer Cox, in an interview with Khaleej Times.
He called for free trade with other countries as trade liberalisation benefits all parties, while acknowledging that global trading conditions have not always been level for the US.
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US President Donald Trump announced tariffs on many countries in his second term, to protect industries deemed critical to US national and economic security and rebuilding domestic manufacturing capacity.
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“I'm not a big tariffs guy. I truly believe in free trade, that is good for all of us, and lifts all of us. I also believe that there hasn't been a level trading field for a long time... If it was up to me, we would get rid of trade barriers everywhere. But if there are going to be some trade barriers, we need to be pragmatic and make sure that they're smart. I don't love that we have to raise prices. I think that's bad for consumers. It's certainly hurting with inflation here at home, and across the globe,” Cox said during an interview with Khaleej Times.
Trump announced sweeping tariffs in his second term citing persistent US trade deficits, unfair reciprocity in global trade relationships, national security concerns over steel, aluminium and semiconductor imports, and fentanyl-related migration emergencies involving Canada, Mexico and China.
He invoked IEEPA, Section 232 and Section 301 authorities to impose duties ranging from 10 per cent to over 50 per cent. Tariffs were reduced through bilateral truces, notably with China, where rates fell from 125 per cent to 10 per cent, before being extended through November 2026, alongside exemptions for Canada and Mexico.
Cox stressed that what businesses need most is certainty rather than frequent shifts in tariff levels.
“People just want security; they just need to know what the rules of the game are,” Cox said, adding that constant policy changes make it difficult for companies to plan.
He said he had relayed this concern directly to the US President, warning that uncertainty discourages investment and if investors are unsure where they stand, they simply won't commit funds.
India is Utah's top priority
Cox said Asian investment in Utah, recently ranked number one in the US for Asian investment by Forbes, began with tourism, helped by a direct flight link to South Korea, but has since expanded into life sciences, aerospace and defence, and energy.
Cox described India as one of his top priorities as the South Asian country is “one of the top markets in the world” and Utah was planning to send a trade mission there next year.
On critical minerals, Cox said Utah holds 50 of the 60 minerals designated by the US Department of Defence as strategically important — more than any other state — and has passed legislation this year to create a critical minerals commission and streamline permitting, cutting permit processing times from around 200 days to 40. The state is also working with allies such as Australia and Canada on mining and processing partnerships.
Cox argued that state-level relationships are increasingly important for foreign investors navigating the US, given the country's size and economic diversity. He highlighted Utah's dual-language immersion education programmes — covering Spanish, French, German, Chinese and Portuguese — as a competitive advantage in attracting international business, alongside personalised support for incoming investors that he said smaller firms might not receive in larger states such as Texas.
