EU Retaliatory Tariffs: US States and Industries Face Economic Fallout
New data reveals a clear link between increased tariffs and decreased consumer demand, as demonstrated by the significant drop in Tennessee whiskey exports to the EU during previous trade disputes. The potential re-imposition of tariffs, now impacting over $27 billion in US exports, threatens to severely impact numerous states, especially New York and North Dakota which have a high percentage of exports at risk. This escalation could lead to substantial sales losses for U.S. businesses as EU consumers seek cheaper alternatives. The wide range of affected products, from agricultural goods to manufactured items, underscores the broad economic consequences of this trade conflict.
John Q. Hosedrinker