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New Jersey Chamber Insider

Business News, Advice and Trends

April 9, 2025

Today's Highlights

• President Trump announces 90-day tariff pause for at least some countries, but not China

• China hikes its tariffs on American imports to 84%.

• NJs perfect storm: Tariffs, growing uncertainty and declining confidence.

President Trump announces 90-day tariff pause for at least some countries, but not China

President Trump on Wednesday announced a 90-day pause on the full effect of his new tariffs for at least some countries. Trump also said that he was raising the tariffs imposed on imports from China to 125% "effective immediately" due to the "lack of respect that China has shown to the World’s Markets." Trump's decision to pause the full effect of tariffs comes becuase he said "more than 75 Countries" have contacted U.S. officials "to negotiate (a) solution" to trade concerns that he raised in imposing the new duties. (CNBC)

China hikes its tariffs on American imports to 84%

The increasingly vicious trade war between Washington and Beijing took another turn Wednesday when China imposed an additional 50% tariff on imports from the U.S., hiking its levies on American imports to 84%. The tit-for-tat escalation came hours after President Trump’s 104% tariffs on Chinese imports went into effect, including 50% Trump added Monday. (NBC News)

New Jersey’s perfect storm: Tariffs, growing uncertainty and declining confidence. Read the op-ed from the NJ Chamber of Commerce

"New Jersey’s economy was already facing much uncertainty when President Trump made his tariff announcement," wrote N.J. Chamber of Commerce President Tom Bracken. "Now, the fallout from the tariffs have magnified whatever uncertainty we were already facing. It feels like the perfect storm for New Jersey. New Jersey businesses of all sizes need support more than ever." Read the op-ed here. (ROI-NJ)

Atlantic City casino profits fell by over 9% in 2024; only two properties saw an increase

Profits plunged at Atlantic City’s casinos in 2024, down more than 9% from the previous year, figures released Monday show. The New Jersey Division of Gaming Enforcement released figures showing the nine casinos posted a collective gross operating profit of $675.1 million, down 9.3% from 2023. And only two of the casinos – Caesars and Hard Rock – saw operating profits increase last year. (CDC Gaming via Press of Atlantic City)

US expected big travel year, but overseas visitors are heading elsewhere

The U.S. tourism industry expected 2025 to be another good year in terms of foreign travelers. The number of international visitors to the U.S. jumped in 2024, and some forecasts predicted arrivals from abroad this year would reach pre-COVID levels. But three months into the year, international arrivals are plummeting. The federal government’s National Travel and Tourism Office released preliminary figures Tuesday showing visits to the U.S. from overseas fell 11.6% in March compared to the same month last year. (The Associated Press)

Cornerstone NJ Member News

New Jersey American Water buys water system in Shrewsbury

New Jersey American Water, the largest regulated water company in the state, said Tuesday that it has completed its purchase of the water system of Shrewsbury Township’s Alfred Vail Mutual Association community for $525,000. The company said it will invest $2.5 million in infrastructure improvements. (ROI-NJ)

Cornerstone NJ is a membership program of the New Jersey Chamber of Commerce. 

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Business Events

April 17 – Member Mixer (Free to members)

Control Point Associates, Warren, 5:30 p.m. to 8 p.m.

More information and register

April 22 – Business Roundtable Lunch with Senate President Nicholas Scutari

Holiday Inn, Clark, Noon to 2 p.m.

This is a special lunchtime edition of the NJ Chamber Business Roundtable Series. Senate President Scutari will discuss legislative priorities, the proposed fiscal 2026 state budget and other issues vital to the business community.

More information and register

April 23 – Networking & Baseball: Brooklyn Cyclones at Jersey Shore BlueClaws (Young Professionals Event)

ShoreTown Ballpark, Lakewood, 5:30 p.m. to 9 p.m.

More information and register

May 1 – Marketing on a Shoestring Budget in 2025 (Virtual Event)

Free Virtual Event, 9 a.m. to 10 a.m.

More information and register

Sold Out: May 19 – NJ Chamber Challenge Cup Golf Outing

Bedens Brook Club, Skillman, Noon

More information and register

May 21 – Business Roundtable Breakfast with Speaker Craig Coughlin

National Conference Center, East Windsor, 8:15 a.m. to 10:15 a.m.

Assembly Speaker Craig Coughlin will discuss the proposed fiscal 2026 state budget, and other issues vital to the business community.

More information and register

June 12 – 28th Annual NJ Chamber Open House and Reception

New Jersey State Museum, Trenton, 4 p.m. to 7 p.m.

More information and register

July 16 – Young Professionals Networking Mixer

CGI, New Brunswick, 5:30 p.m. to 8 p.m.

More information coming soon

Sept. 18 – Women of Inspiration Awards Reception

National Conference Center, East Windsor, 5 p.m. to 8:30 p.m.

More information coming soon

Sept. 25 – Member Networking Breakfast (Free to members)

New Jersey Audubon, Bernardsville, 9 a.m. to 10:30 a.m.

More information coming soon

Oct. 22 – NJ Chamber Legislative & Business Awards Reception

EisnerAmper, Iselin, 5 p.m. to 8 p.m.

More information coming soon

Nov. 6 – DE&I Trailblazer Awards Reception

Co-Hosted by African American Chamber of NJ and NJ Chamber

Pines Manor, Edison, 5:30 p.m. to 8 p.m.

More information coming soon

Dec. 11 – Annual Member Holiday Party (Free to members)

Calandra's Italian Village, 5 p.m. to 8 p.m.

More information coming soon

Were you forwarded this newsletter? For more information about the N.J. Chamber, email Patrick.Daily@njchamber.com.

Business Resources

N.J. Economic Development Authority

Choose New Jersey 

New Jersey Business Action Center

U.S. Chamber of Commerce

U.S. Small Business Administration

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The New Jersey Chamber of Commerce is staying on top the issues important to business. For news media requests, please email Scott Goldstein.