Trump's trade war could hurt agriculture, manufacturing
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President Trump's tariffs could target everyday items like bourbon and orange juice, Politico reports, directly affecting "Republican-run states."
Why it matters: Trump is confident. "[T]rade wars are good, and easy to win," he said. But Bill Reinsch, a senior fellow at the Center for Strategic and International Studies, told Politico a trade war could bring "more industries into the fray" as "one set of retaliation prompts another and then another."
The physical responses to a trade war, per Politico:
- The pork industry has concerns "that this decision may result in retaliation against pork and other U.S. goods, particularly other agricultural products."
- Things like soybeans and corn could be targeted in retaliatory responses, which "could hit the red center of America."
- U.S.-made aircraft is also in the crosshairs.
- The construction industry could also take a hit, as steel is a big part of their work.
- Things like beer cans and baseball bats could increase in price as they're made with aluminum, CNN reports.