Reported about 1 month ago
A recent analysis indicates that Donald Trump's proposed tariffs, which include a 60% tax on Chinese imports and 10% to 20% on goods from other nations, would significantly affect states with strong Republican support, such as Indiana, Kentucky, Tennessee, and Mississippi. The Tax Policy Center's report highlights that these tariffs could reduce GDP in the hardest-hit states by over 4%, revealing that while imports account for 11% of the U.S. GDP, their impact varies greatly by state, with some states like Kentucky experiencing a near 5% share. The analysis underscores the intricate relationship between tariffs and local economies, suggesting potential higher consumer prices and business challenges in these regions.
Source: YAHOO