This story was produced as part of the Colorado Capitol News Alliance. It first appeared at cpr.org.
Colorado businesses paid $1.1 billion in tariffs in 2025, according to state treasurer Dave Young.
Tariffs in Colorado are the highest in more than a century, Young said during a conference call for journalists with fiscal officers from other states. The costs are rippling across the state’s economy from agriculture and construction to energy and aerospace, he said.
A Denver retailer reported that tariffs cost his business $25,000 in the fall, according to Young.
“For a small business that is not a formula for a thriving future, it's a recipe for ruin,” Young said. “Businesses need predictability to grow, but what they're getting instead is tariff whiplash … Policies are announced and they're changed. They're reversed, they're escalated with little warning. That creates chaos for business owners trying to plan investments, hire staff or set prices.”
Some Colorado businesses are currently trying to get a refund on tariffs after the Supreme Court struck down a big part of President Donald Trump’s global import taxes in February. The court didn’t address the issue of refunds, but many large companies have already sued to get them.
Trump has since levied a host of different tariffs in an attempt to circumvent the ruling.
