Economists have warned that impending tariffs will raise costs for consumers, especially in states that rely on imports from China, Canada and Mexico.
The administration’s decision to impose a 25% tariffs is expected to affect the medical industry, especially device companies that rely on steel and aluminum imports.
Some states are expected to be hit harder than others, such as Montana, which receives 94% of its economic imports from these three nations.
“We’re the United States of America, but we’re also 50-plus individual economies, and like snowflakes, none are exactly alike. That’s certainly true when it comes to trade,” Matt Schulz, chief credit analyst for LendingTree, told CNBC.
LendingTree looked at all 50 states to determine their key import and export data. It determined that New Mexico, with 77% of its imports coming from these three countries, stands to be the second most-affected behind Montana. Vermont is third, with 75%.
States with the fewest imports include Hawaii (13%), New Jersey (21%) and Maryland (23%).
The top 10 states with the highest imports from Canada
1. Montana: 92%
2. Maine: 69.4%
3. Vermont: 68%
4. North Dakota: 64%
5. Wyoming: 55%
6. Oklahoma: 51%
7. West Virginia: 44%
8. South Dakota: 41%
9. Minnesota: 38%
10. Colorado: 31%
The top 10 states with the highest imports from Mexico
1. New Mexico: 41%
2. Michigan: 40.3%
3. Texas: 37.3%
4. Arizona: 33.2%
5. Utah: 26.2%
6. Alabama: 22%
7. Iowa: 21%
8. Louisiana: 18.4%
9. Missouri: 18%
10. Connecticut: 16%
The top 10 states with the highest imports from China
1. California: 27%
2. New Mexico: 26.4%
3. Nevada: 22%
4. Illinois: 20.3%
5. Tennessee: 19%
6. District of Columbia: 19%
7. Washington: 18%
8. Virginia: 17%
9. Pennsylvania: 16%
10. Missouri: 16%
