Trump trade wars could tank foreign tourism in the U.S., report finds
CBSN
President Trump's trade policies and aggressive rhetoric threatens to hurt the American tourism sector by discouraging foreign travelers from visiting the U.S., according to a recent analysis.
The White House's escalating trade war with Canada, China, Mexico and the European Union, combined with other factors, could weigh heavily on foreign tourism in the U.S. this year, the report from Tourism Economics found. Canada accounts for the sharpest projected decline in travelers to the U.S., with the firm forecasting a 15% drop in the number of visits from the U.S.' northern neighbor in 2025.
Overall, international travel from all foreign countries to the U.S. is expected to drop by just over 5%, according to the report. Factoring in diminished spending by Americans traveling domestically this year, overall travel spending in the U.S. could drop up to $64 billion in 2025, according to Tourism Economics, a unit of investment advisory firm Oxford Economics.
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