The Potential Economic Impact of Sustained Tariffs on Automobiles and Parts
Brief Published on April 01, 2025Recently announced tariffs on automobiles (and, potentially, parts) would cause increases in prices and other economic costs. The Perryman Group estimates that the US economy could lose hundreds of thousands of jobs if the tariffs are sustained.
- Tags:
- trade,
- tariffs,
- automotive
The Potential Economic Impact of Sustained 25% Tariffs on Steel and Aluminum
Brief Published on March 18, 2025Aluminum and steel are key to many manufacturing, agricultural, and mining sectors ranging from automotive and aviation to energy. Infrastructure projects also heavily rely on these metals. They are integral to the entire US manufacturing supply chain, and a 25% tariff is likely to cause significant price increases for US manufacturers and, therefore, consumers (some are already being observed). In addition, other countries have retaliated. If lasting solutions are not reached and additional retaliatory tariffs are enacted, it could further escalate the economic harms and accelerate a global trade war.
The High Cost to the Texas Economy of Tariffs on Imports from Mexico, Canada, and China
Brief Published on March 13, 2025The recent barrage of tariffs involves very high economic costs. The Perryman Group estimates that the US economy could lose millions of jobs if the tariffs are sustained, and with each new levy the consequences are escalating. As a large economy and leading trading region, Texas bears a substantial portion of the national burden (more than any other state).
The Potential Economic Impact of Sustained, Significant Tariffs on Imports from China
Brief Published on February 21, 2025A 10% tariff on all imports from China recently took effect, with a higher levy of 25% on steel and aluminum. China is an important US trading partner, with 2024 imports of more than $438.9 billion and exports of $143.5 billion. Top imports include various types of consumer electronics, computer equipment, machinery, and toys. In addition, US imports of iron and steel from China totaled almost $12.0 billion last year. Many of these products are integral to the US manufacturing supply chain as well as important to consumers. China is also the source of large proportions of specific products such as computers and related equipment.
The Potential Economic Impact of Sustained, Significant Tariffs on Imports from Canada and Mexico
Brief Published on February 04, 2025Although the situation remains in flux and a temporary pause is in place, one thing is very clear: sustained, significant tariffs on imports from Canada and Mexico would be very costly to the US economy. Tariffs of 25% on virtually all goods imported from Mexico and Canada with the exception of Canadian energy products (which are scheduled to be 10%) were recently announced. If levies of this magnitude are sustained for one year, The Perryman Group estimates that about 1.9 million US jobs could be lost.
The High Economic Cost of Proposed Tariffs on Imports from Canada and Mexico
Brief Published on December 03, 2024President-elect Trump has announced that he is considering a 25% tariff on goods from Canada and Mexico. The stated goals are to reduce the flow of fentanyl and other drugs into the United States and to increase assistance with controlling illegal immigration. While these issues are important, the economic costs of such tariffs would be enormous. If levies of this magnitude are actually implemented and sustained for an extended period, The Perryman Group estimates that almost two million US jobs could be lost.
What might the impact of new auto tariffs be?
Radio Spot Broadcast via Texas State Networks on April 02, 2025Dr. Perryman discusses the impact of new auto tariffs.
- Tags:
- tariffs,
- automotive
What is the impact of new tariffs on Texas?
Radio Spot Broadcast via Texas State Networks on March 26, 2025Dr. Perryman discusses the impact of tariffs on Mexico, Canada, and China on Texas.
What is the likely impact of tariffs on steel and aluminum?
Radio Spot Broadcast via Texas State Networks on March 18, 2025Dr. Perryman discusses the impact of tariffs on steel and aluminum.
- Tags:
- tariffs
What would the impact be of the potential tariffs on goods from Mexico and Canada?
Radio Spot Broadcast via Texas State Networks on February 07, 2025Dr. Perryman discusses the impact of the potential tariffs on goods from Mexico and Canada.
- Tags:
- tariffs