Charted: Tariff projections
Add Axios as your preferred source to
see more of our stories on Google.
Businesses in border states like Arizona may bear the brunt of President Trump's proposed tariffs on goods from Canada, Mexico and China, per a new estimate shared with Axios.
Why it matters: Trump and other GOP leaders view tariffs as political cudgels for extracting concessions from targeted countries. But they're also likely to make imported goods more expensive as companies pass the increased costs along to everyday Americans.
By the numbers: The tariffs as issued Saturday (the Mexican and Canadian ones have since been put on pause) would have an estimated $232.7 billion national impact, per economic research firm Trade Partnership Worldwide and based on trade from January to November 2024.
- The impact on Arizona businesses was estimated at $3.8 billion.
- The most significant effects would be felt in Texas ($47.1 billion), California ($32.6 billion) and Michigan ($27.8 billion).