Trump's tariffs would hit most where his supporters live, analysis finds
Published On Oct 26, 2024, 8:44 AM
Analysis of Donald Trump's proposed tariffs reveals they would significantly impact Republican-leaning states, particularly Indiana, Kentucky, Tennessee, and Mississippi, where GDP losses would be most pronounced. The tariffs include a 60% levy on Chinese imports and a 10-20% tariff on goods from other countries. States like Illinois, Wisconsin, and Michigan, considered swing states, would also experience notable economic impact. The study indicates that tariff payments could rise dramatically, leading to increased prices for consumers and impacts on local businesses and employment.
Stock Forecasts
SPY
Negative
Given the potential negative impact on GDP and local economies due to tariffs, particularly in key Republican states, industries that rely heavily on imports could face challenges. Sectors such as manufacturing and retail may experience higher operational costs, leading to reduced profitability.
XLI
Negative
Investors may want to hedge against the potential impacts of tariffs on consumer goods and manufacturing sectors, which could suffer due to increased costs and reduced disposable incomes for consumers.
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