How tariffs might affect inflation + more Huntsville business news

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Get caught up on local business news here in Huntsville. (Hville Blast)

Pres. Donald Trump took his oath of office Jan. 20, and one of the issues surrounding his presidency has been talk of tariffs on goods and how that will affect the economy.

Our expert from the University of North Alabama Sanders College of Business & Technology can help clear the air on the issue. Read further for more tariff info and business news from around the Rocket City.

How tariffs will affect the U.S. economy

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UNA professor Dr. James Imbrogno gives his insight into tariffs. (University of North Alabama)

If you have listened to people discuss the economy, and what Pres. Trump plans to do in regard to trade, you likely have heard the word “tariff” come up multiple times. But, what exactly are tariffs?

We spoke with UNA Economics professor Dr. Jason Imbrogno about the subject and he was able to put into perspective what the new administration’s plan might mean.

First, a tariff — put simply — is an added tax on foreign-produced goods that are sold domestically. 

As Imbrogno explains, tariffs basically serve two main purposes:

  • Protection of domestic industry (by making foreign good artificially more expensive)
  • Government revenue generation

Imbrogno said while tariffs have become a “bad word” in our globalized economy of the past few generations, they have a long history of beneficial use, especially in the US.

“Tariffs were a major source of revenue for the US government for over 100 years, and they are largely credited for helping birth American industry and turn it into a behemoth by the end of the 19th century.”

Dr. Jason Imbrogno, UNA Associate Professor of Economics

Will tariffs cause inflation?

The main criticism of Trump’s tariffs plan is that they will cause prices to increase, adding to the high prices of goods we have already seen in the last five years.

“Tariffs will contribute to inflation early on. However, if they work as intended, the government should be able to rake in significant revenue from them, while also helping birth new domestic industry opportunities. Personally I see the positive side outweighing the negative side.”

 Dr. Jason Imbrogno, UNA Associate Professor of Economics

Imbrogno said the downside is that instituting tariffs will not only contribute to inflationary pressures, bit will likely hurt our export industries as other countries react to our tariffs with tariffs of their own.

Bradley adds new Huntsville attorneys

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Bradley Arant Boult Cummins recently added 51 attorneys to its firm across multiple markets — Birmingham, Atlanta, Tampa, Washington, D.C., Nashville, Jackson, Houston, Dallas and Charlotte — with two of those new attorneys hired in the Huntsville office.

The new additions to the Huntsville office are:

  • AJ Brien – Corporate & Securities Practice Group (University of Alabama School of Law)
  • Trevor G. Porter – Corporate & Securities Practice Group (University of Alabama School of Law)

“Each year, one of our firm’s overarching goals continues to be strategic growth and this includes adding talented young attorneys across a variety of practices. This group is no exception as we welcome this historically large class of attorneys across our footprint.”

Jon Skeeters, Managing Partner, Bradley Arant Boult Cummings

Overall, Bradley added 117 new attorneys to the firm in 2024 and now has more than 700 attorneys across its 13 offices. 

Unemployment rates up slightly in Alabama + Madison County

Emma Bissell at Coin Coworking in Huntsville
Alabama’s jobless rate is still among the lowest in the country. (Lacey Muenstermann / Hville Blast)

Alabama’s state unemployment rate was slightly up in November, and several counties are up too, including Madison, Marshall, Morgan, Limestone and Lauderdale. However, the state still reports an unemployment rate below the national average.

Alabama’s unemployment rate at the end of November was 3.1 percent, up from 2.9 percent in October and up from 2.8 percent in November of 2023. The unemployment rate nationally stands at 4.1 percent.

Here’s a look at unemployment rates in North Alabama counties:

Madison CountyNov. 2024: 2.8%Oct. 2024: 2.6%Nov. 2023: 2.1%
Morgan CountyNov. 2024: 2.7%Oct. 2024: 2.6%Nov. 2023: 2.0%
Limestone CountyNov. 2024: 2.9%Oct. 2024: 2.8%Nov. 2023: 2.1%
Marshall CountyNov. 2024: 2.8%Oct. 2024: 2.5%Nov. 2023: 2.1%
Lauderdale CountyNov. 2024: 3.3%Oct. 2024: 3.1%Nov. 2023: 2.5%

Look for our monthly North Alabama business news roundup this time next month, brought to you by the University of North Alabama Sanders College of Business & Technology.

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Michael Seale
Michael Seale
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