Yahoo Finance’s report on an analysis by JP Morgan finds that Arkansas is hit harder by all but three states in damaging impact from tariffs on Chinese imports.
The analysis measured impact as a percentage of GDP. The top four, in order, were Tennessee, Illinois, California and Arkansas, tied for fourth with Georgia. In Arkansas, imports are estimated at 4 percent of GDP.
And while California being hit hard would seem obvious to most, Illinois and Tennessee seem unusual at first glance. Brusuelas explained that it all comes down to cheap consumer goods.
“I would assume it’s going to be a range around exposure to Walmart supply chains and Target supply chains,” he said.
Doug Barry, a spokesman for the U.S.-China Business Council, noted that the possibility of long-term damage to state economies depends on how long the new layer of tariffs continues.
Drugs, phones, cars and electronics are among the goods on which the 25 percent tariff will be felt.