Three Things to Know: February 7th

This week's information compiled by your SC Chamber team includes: 
Canadian and Mexican Tariffs Paused while Chinese Tariffs Take Effect, A'ja Wilson Announced as Keynote Speaker for SC Chamber Women's Leadership Symposium, Legislative Update - Week 4

 1. Canadian and Mexican Tariffs Paused while Chinese Tariffs Take Effect

On February 1^st, President Donald Trump issued executive orders to impose new tariffs on imports from Canada, Mexico, and China. The tariffs were implemented under the International Emergency Economic Powers Act (IEEPA), as the administration cited that drug trafficking, illegal immigration, and reliance on foreign supply chains are threats to national security. The tariffs levied were set to be 25% on all imports from Mexico and Canada, 10% on energy resources from Canada, and a 10% tariff on all imports from China. The executive order on China also reversed the de minimis exemption, which allows international exporters to ship packages worth less than $800 to forgo inspection and enter duty-free. On Monday afternoon, President Trump announced a 30-day pause on the implementation of the tariffs on Canada and Mexico after the two countries agreed to work with the United States on border security and drug trafficking efforts. The 10% tariff on Chinese imports went into effect on Tuesday.

The Tax Foundation has estimated that the tariffs on Canada, Mexico, and China could shrink U.S. economic output by 0.4 percent and increase taxes by $1.1 trillion between 2025 and 2034 on a conventional basis, amounting to an average tax increase of more than $800 per US household in 2025.

How has China Responded?

On Tuesday, China announced its own set of retaliatory tariffs, including a 15% tariff on coal and liquefied natural gas (LNG) and a 10% tariff on crude oil, agricultural machinery, and large-engine cars. The Chinese also implemented export controls on critical minerals used for high-tech production, including tungsten, tellurium, and bismuth, which the U.S. heavily relies on, and announced an antitrust investigation into Google. The Chinese tariffs are set to take effect on February 10^th.

What’s the Potential Impact on South Carolina?

South Carolina, which exported $37.3 billion worth of goods in 2023, could face significant economic headwinds if the tariffs go into effect. South Carolina is the 17^th largest exporter of goods in the U.S., and Canada, China, and Mexico are three of the state’s largest trading partners. South Carolina’s automotive industry stands to take the largest hit from any tariffs levied on Mexico, where most South Carolina automotive parts are sourced. The state’s agriculture industry could also be impacted. Joey Von Nessen, a research economist at the University of South Carolina, said that the biggest impact on South Carolina’s business community stems from the uncertainty that these tariffs bring, potentially delaying a business’s decisions on new investments or hiring.

This is a developing situation. Continue to check back for updates.

2. A'ja Wilson Announced as Keynote Speaker for SC Chamber Women's Leadership Symposium

This week, the South Carolina Chamber of Commerce revealed A’ja Wilson as the highly anticipated Keynote Speaker for the 4^th Annual Women’s Leadership Symposium.

The annual Women’s Leadership Symposium celebrates the contributions of women in advancing South Carolina and its business landscape. This all-day event recognizes the distinct leadership perspectives women bring and delves into the opportunities and challenges women face in the business world. As a native South Carolinian, an internationally recognized basketball superstar, a multifaceted businesswoman and much more, A’ja Wilson is the definition of an inspirational leader who has years of experience championing the women of our great state.

A'ja Wilson is a professional basketball player and one of the most dynamic and impactful women in sports. The 2023 Finals MVP, 3x WNBA MVP, 2x All-First Team, 6x WNBA All-Star, 2x Olympic Gold Medalist, 2018 WNBA 1st Overall Draft pick, and 2018 WNBA Rookie of the Year is the face of the WNBA and the back-to-back World Champion Las Vegas Aces, which she helped lead to their first title in franchise history.

In her collegiate career, A'ja attended her hometown school, the University of South Carolina, and led the program to its first NCAA Women's Basketball Championship, in 2017. There, she was also the recipient of many individual accolades, such as the NCAA basketball tournament Most Outstanding Player award, three straight SEC Player of the Year awards, and first-team All-American for three consecutive seasons. During her senior season, A'ja swept all National Player of the Year awards (Wade, AP, Honda, USBWA, Wooden, and Naismith) as the best Women's College basketball player for 2018 and became the all-time leading scorer in South Carolina women's basketball history. Upon graduation, the school erected a monument in her honor.

Off the court, A'ja is an entrepreneur and author. She started Burnt Wax, a candle business inspired by how aromatherapy brought a sense of tranquility and calm during some of the most challenging times in her family's life and provided the energy boost that they needed to deal with everyday life. She published a book, “Dear Black Girls: How To Be True To You”, which quickly rose on the New York Times Best Sellers List.

A'ja is also a big advocate for giving back, mentoring kids, and social justice. She also founded the A'ja Wilson Foundation with her parents, Roscoe and Eva Wilson. The AWF serves as a resource for children and families who struggle with Dyslexia along with working to shift the culture of students to prevent bullying.

All these accolades landed A'ja among the 2024 Sports Illustrated 50 Most Influential Figures In Sports, 2024 Time100 Most Influential People, and Forbes 2021 30 Under 30 lists. A'ja loves spending time with her two dogs, Ace and Deuce, and staying active regarding her health and fitness. The generational talent who continues making history is an elite-level UNO and Board Game player who loves music, modeling, fashion, photography, watching movies, escape rooms, traveling, books, podcasts and "The Office."

“The SC Chamber is very honored to have one of South Carolina’s very own, A’ja Wilson, as our keynote speaker,” said SC Chamber Executive Vice President and Chief Operating Officer, Cynthia Bennett. “A’ja has accomplished so much in her career in such a short period of time. She is the epitome of a true leader who is paving the way for others to be just as successful.”

This year’s Women’s Leadership Symposium, presented by BlueCross BlueShield South Carolina, will be held on March 13, 2025, at the Columbia Metropolitan Convention Center. In addition to A’ja Wilson’s Keynote, attendees can expect impactful panel discussions, fireside chats, ample networking opportunities, silent auction, and presentation of the ATHENA Awards. All proceeds from the silent auction will go towards the SC Chamber Education and Workforce Foundation’s 40^th annual Business Week program.  

Click here to view the full agenda for the 4^th Annual Women’s Leadership Symposium and register to attend today. 

3. Legislative Update – Week Four

It was another busy week in Columbia as lawmakers continued to tackle some of their policy goals for this session. They also gathered in a joint session on Wednesday to elect certain judges.

A few notable actions taken this week include:

• 2025 Justice Act (S.244) – On Thursday, a Senate Judiciary Committee subcommittee took testimony on a bill that would fix South Carolina's broken civil "justice" system and make our economy more competitive. The Chamber has already submitted a letter underlining our strong support for the bill and urging its immediate passage. Learn more about S.244 here. We expect that there will be two subcommittee meetings held next week. Those interested in watching this week’s hearing can do so here.
• South Carolina Energy Security Act (H.3309) – On Wednesday, the House Labor, Commerce, and Industry (LCI) Committee advanced a bill that aims to address the current and future energy needs of South Carolina by increasing generation capacity through an “all of the above” approach and through common sense regulatory and permitting reforms to maintain South Carolina’s unprecedented economic growth. The Chamber sent a letter of support for the bill as addressing South Carolina’s future energy needs is a top priority for the business community this legislative session. The bill now heads to the House floor.
• Childcare Tax Credit Modernization (S.47) – On Tuesday, the Sales & Income Tax subcommittee of the Senate Finance Committee took testimony on a bill that seeks to modernize the existing childcare tax credit available to South Carolina employers who offer on-site childcare or provide childcare benefits to their employees by increasing the credits and allowing the credits to be claimed against an employer’s withholding or license taxes. The bill also creates a new refundable income tax credit for individuals who are employed full-time as a childcare director or a worker in a childcare facility. The Chamber joined the South Carolina Manufacturers Alliance (SCMA) in a letter of support for the employer-related provisions of the bill. No action was ultimately taken, and future subcommittee meetings are expected to be held.
• Liquor Liability (H.3497) – On Thursday, a House Judiciary Committee subcommittee took testimony on a bill that aims to provide relief for the members of the hospitality industry who are struggling with increased liquor liability insurance rates or unable to find coverage. The bill would create a liquor liability insurance risk mitigation program that businesses that sell alcohol for on-premises consumption can participate in to reduce the $1 million minimum annual insurance policy that they are required to have. A business that sells alcohol for on-premises consumption can qualify for the program if it stops serving alcohol by midnight, completes an alcohol-serving training course, has less than forty percent of its total sales deriving from alcohol sales, or is a nonprofit or entity hosting a single event for which a Beer and Wine Special Event License or Liquor Special Event Permit is obtained. The subcommittee will meet again on the bill next week.

• Organized Retail Crime (3523) – This week, the full House Judiciary Committee advanced a bill that would create a felony offense of “organized retail crime” which is defined in the bill as being a premeditated act of retail theft with the intent of selling the stolen goods for monetary gain. The bill provides for penalties based on the value of goods stolen and includes graduated penalties in the event of property damage during the theft. The bill now heads to the House floor.
• Surface Water Study Committee (H.3814) – On Tuesday, a House Agriculture, Natural Resources and Environmental Affairs Committee subcommittee advanced a joint resolution that expands the scope of this study committee to include groundwater use and delay its reporting deadline until March 1, 2026. The study committee, which was authorized by a proviso in the FY2024-25 budget, was originally tasked with studying the current state of surface water in South Carolina in terms of how much is available, the number of permit holders who withdraw surface water, for what purposes the water is being withdrawn, and how to balance economic and environmental needs, and was required to produce a report by March 1, 2025. The joint resolution now heads to the full committee.

Lastly, on Wednesday, the Senate voted unanimously to confirm Thomas S. (Tom) Mullikin, Ph.D., J.D., as the new Director of the South Carolina Department of Natural Resources (DNR). Mullikin is a past recipient of the Chamber’s Sgt. William Jasper Freedom Award. Congrats Director Mullikin!

To check out the bills the Chamber is actively working on this year, click here.