The 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).

While things are in flux as countries around the globe retaliate and policy changes constantly and unpredictably (which creates its own set of problems), these estimates illustrate the enormous magnitude of the potential costs if the trade war persists. Irrespective of their stated purpose, tariffs are causing disruptions and higher costs across a broad spectrum of the economy. As a major trading state, Texas is particularly hard hit.

For more details please refer to the full brief.