Trump's new tariffs could hit these US states the hardest

  • President Donald Trump has proposed new taxes on imports of steel and aluminum.
  • States that have a lot of exposure to steel and aluminum imports could be hit particularly hard by the new tariffs.

President Donald Trump seems set to implement his proposed tariffs on aluminum and steel imports, and they're poised to affect some states more than others.

Trump announced the tariffs, or taxes on imports, last week. The proposal calls for a 25% tax on steel imports and a 10% tax on aluminum imports.

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Companies that have given bonuses, increased pay since tax bill passed
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Companies that have given bonuses, increased pay since tax bill passed

Walmart

(Photo by Scott Olson/Getty Images)

Apple Inc.

(Luke Sharrett/Bloomberg via Getty Images)

Comcast 

(Photo by Justin Sullivan/Getty Images)

Starbucks

(Photo by Zhang Peng/LightRocket via Getty Images)

American Airlines

(REUTERS/Joshua Roberts)

AT&T

(REUTERS/Rick Wilking

The Walt Disney Co.

(REUTERS/Mario Anzuoni)

Sinclair Broadcast

(Photo via Facebook)

Bank of America

(BRYAN R. SMITH/AFP/Getty Images)

Alaska Airlines

(Photo by FG/Bauer-Griffin/GC Images)

BB&T bank

(REUTERS/Jim Young)

JetBlue 

(REUTERS/Brian Snyder)

Fifth Third Bank

(REUTERS/Joe Skipper)

Nationwide

(Photo via Facebook)

PNC Financial

(Christopher Dilts/Bloomberg via Getty Images)

Southwest Airlines

(REUTERS/Lucy Nicholson)

US Bancorp

(Christopher Dilts/Bloomberg via Getty Images)

Boeing 

(REUTERS/Jim Young)

JPMorgan Chase

(Daniel Tepper/Bloomberg via Getty Images)

Wells Fargo & Co.

(Daniel Tepper/Bloomberg via Getty Images)

Home Depot

(EDUARDO MUNOZ ALVAREZ/AFP/Getty Images)

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Several economists have warned the tariffs could have a negative impact on the economy, with one analysis suggesting a net loss of 146,000 jobs. And on Wednesday morning, several big industrial stocks, which are large consumers of steel and aluminum and could see a hit to their businesses if metal prices go up, were trading sharply lower.

Deutsche Bank Chief International Economist Torsten Sløk circulated a chart showing which states have the most to lose from the new tariffs. The chart shows the share of steel and aluminum among the states' total imports, one measure of how important those metal imports are to their economies.

Louisiana, Connecticut, and Missouri all appear set to be hit especially hard if the new tariffs go into effect.

slok tariffs v2Deutsche Bank

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