A new report from New York State Comptroller Thomas DiNapoli finds that federal tariff policies are contributing to a significant decline in international tourism and exports across New York, raising concerns for small businesses and the broader economy. The analysis shows the state experienced one of the steepest drops in international visitors nationwide in 2025, losing more than 176,000 travelers, while visits from Canada fell by over 21%.

The report also highlights a sharp decline in exports—particularly to Canada, New York’s largest trading partner—which fell by billions of dollars following the implementation of tariffs.  These combined trends are impacting key industries such as hospitality, retail, and food service, with fewer visitors translating into reduced spending, lower hotel occupancy, and pressure on jobs.

For New York City and neighborhoods like Greenwich Village and Chelsea—where small businesses rely heavily on tourism and global commerce—the findings underscore the ripple effects of federal trade policy on local economic vitality.