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Brews & Economic Views
June 11, 2025 @ 5:30 pm – 7:30 pm
CBER | Brews & Economic Views Page | Research & Reports | | View in Browser
Wednesday, June 11, 2025
Trade, Tariffs and the Economy5:30PM – 7:30PMLocation TBDurchase Your Ticket! | You’re invited to join UNLV’s Center for Business and Economic Research (CBER) for the next installment of our 2025 Brews and Economic Views series: Trade, Tariffs, and the Economy.
Join us on Wednesday, June 11th, for an engaging panel discussion on how recent and proposed U.S. tariffs are influencing our national and state economy when it comes to trade. Our panel of economists, trade experts, and business leaders will discuss the importance of trade for their industries when it comes to supply chains, consumer prices, and employment. We’ll also explore how businesses in Nevada are navigating these shifts and what it means for the economy moving forward. | | MEET YOUR PANELISTS |
| William “Bill” Lee Chief Economist & Executive DirectorMilken Institute
William Lee is the Milken Institute’s Chief Economist and Executive Director. He leads the Institute’s efforts to promote policies to improve capital market functioning, market access, and financial stability. As Chief Economist for Global Economic Advisors, he also advises businesses and investors on strategic investment opportunities arising from economic and financial market developments. Before Milken, Dr. Lee was Managing Director and Chief US Economist for Citi, Before Citi, he was Deputy Division Chief at the International Monetary Fund, where he established its Hong Kong office, helped revise the IMF’s financial surveillance procedures, and represented the IMF from 2000-2003 in Hong Kong. He was also Mission Chief for Singapore and Deputy Division Chief on the US and German desks. Prior to the IMF, Dr. Lee was Division Chief at the Federal Reserve Bank in NY and a staff economist at the Federal Reserve Board of Governors. Dr. Lee holds a B.Sc. in Operations Research and a Ph.D. in Economics from Columbia University.
| Ian McDonough, Ph.D.Associate Professor & Chair of EconomicsUniversity of Nevada, Las Vegas
Ian McDonough is an economist whose expertise covers a general view of applied microeconomics, with particular interests in food security, child health and development, education, and microeconometrics.
McDonough came to UNLV in 2014 and is currently an associate professor of economics in the Lee Business School. He has taught courses and conducted research on topics including econometrics, statistics, and empirical microeconomics. He’s also an independent economic consultant.
McDonough’s most recent research explores the determinants of food insecurity, the role of regional economic diversification in mediating economic shocks, the impact of terrorism on social capital, and the development of new econometric estimators. | MORE COMING SOON! | | Fast Facts:
Tariffs, could cost the average U.S. household $4,700 in the short run and shrink real GDP by 1.1 percentage points in 2025—equating to a $170 billion annual loss and 740,000 fewer jobs—while disproportionately impacting lower-income households.
Source: The Budget Lab at Yale
CBER estimates that Nevada imports $30 billion in foreign goods per year — 21 percent of all imports are sourced internationally. The current tariff policy threatens to disrupt supply chains in key sectors like apparel (87 percent imported) and electronics (72 percent imported), while possibly squeezing margins, dampening consumer spending, and putting the state’s $202.3 billion economy and 2.4 percent average yearly growth rate at risk.
Source: UNLV CBER’s analysis supported by Federal Reserve Bank of St. Louis
A projected 9.4 percent drop in international travel—driven by trade tensions—threatens Las Vegas’ tourism economy, where Canadian visitors alone contributed $3.6 billion to GDP and supported 43,200 jobs in 2024 according to CBER’s research, underscoring the region’s vulnerability to global policy shifts.
Source: UNLV CBER’s analysis supported by Las Vegas Convention and Visitors Authority: International Visitation Estimates and Visitor Segments
Tariffs are expected to raise U.S. homebuilding costs by $9,200 per home, with key materials like softwood lumber (72 percent sourced from Canada) facing tariffs that may exceed 50 percent, threatening affordability in a sector already hit by a 34 percent rise in material costs since 2020.
Source: National Association of Home Builders |
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