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Additionally, Trump also said that China, which already faces 10% U.S. tariffs on its products, “will likewise be charged an additional 10% Tariff on that date.”
Read more about what it is like to be tariff crazy and how it impacts the global economy, especially in the Asia-Pacific markets.
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That will affect each state differently. For some states, such as Montana and New Mexico, nearly all of their import and export exposure is to a single targeted country. Energy — such as oil for Montana and Oklahoma, electronics for New Mexico, and auto parts such as EV batteries for Texas and California, where Tesla has a big presence — looms large in the trade battle.
But the impact to local economies and consumer prices will range widely.
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