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WSJ: Chinese Tariffs Will Have Greatest Impact on Trump Counties

WSJ: Chinese Tariffs Will Have Greatest Impact on Trump Counties
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By    |   Friday, 06 July 2018 09:36 AM EDT

Counties that voted for President Donald Trump will be most impacted in the wake his tariffs and China's countertariffs,The Wall Street Journal reported.

The Chinese tariffs will affect more than 25 percent of a county's economy in nearly 20 percent of the counties that voted for Trump, which would affect 8 million people.

Only 3 percent of the counties that voted for Hillary Clinton would be so heavily affected.

The U.S. tariffs will mainly affect Chinese aerospace products, information technology, auto parts, and medical instruments, while Chinese tariffs will affect the American heartland, including farm products, cars, and crude oil, The Journal reported, based on Moody's Analytics analysis.

Industries such as soybeans in the Great Plains, auto manufacturers in the upper Midwest, and oil producing areas in the Dakotas or Texas will be among the most affected, the Journal reported.

"The agricultural areas get nailed. Some of the manufacturing centers get hurt as well," said Mark Zandi, chief economist of Moody's Analytics.

China imports the most soybeans in the world and is the second-biggest importer of crude oil after Canada, according to the U.S. Department of Agriculture and the U.S. Energy Information Administration, The Journal reported.

"The beneficiaries are pretty narrowly regionally concentrated, right in the industrial Midwest. Outside of that, it's hard to identify anyone who benefits to any significant degree," Zandi said.

Tariffs on Chinese goods took effect early Friday.

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Politics
Counties that voted for President Donald Trump will be most impacted in the wake his tariffs and China's countertariffs.
trump, china, tariffs, counties
233
2018-36-06
Friday, 06 July 2018 09:36 AM
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