Summarize this content to 2000 words in 6 paragraphs After President Donald Trump signed a memorandum initiating a new reciprocal tariff system, some states are slated to feel the effects more than others, according to a new report.Why It MattersTrump implemented the memorandum after promising to evoke tariffs in an effort to put America first throughout his campaign.”I have decided for purposes of fairness that I will charge a reciprocal tariff, meaning whatever countries charge the United States of America, we will charge them. No more, no less,” Trump announced from the Oval Office on Thursday.Previously, Trump announced tariffs of up to 25 percent on goods from Mexico and Canada and a 10 percent tariff on Chinese imports.What To KnowSome states are more likely to feel the hit from Trump’s tariffs than others, according to a new LendingTree report.Eight states, in particular, will see at least two-thirds of their imports impacted by a blanket tariff on goods from Canada, Mexico and China.The LendingTree report analyzed which states had the highest percentage of imports and exports to these countries and found that 10 states would be particularly vulnerable if Trump’s promised tariffs were enacted.
The map shows the states that are likely to be hit hardest by Trump’s tariffs.
That includes Montana, New Mexico, Vermont, Michigan, Maine, North Dakota, Oklahoma, Wyoming, Iowa and South Dakota.Forty-four percent of Americans say tariffs will impact their finances negatively, according to the report, with only 28 percent thinking they will have a positive impact.Overall, 74 percent said tariffs will lead to an uptick in prices.What People Are SayingPresident Donald Trump, Thursday on Truth Social: “For many years, the U.S. has been treated unfairly by other Countries, both friend and foe. This System will immediately bring Fairness and Prosperity back into the previously complex and unfair System of Trade. America has helped many Countries throughout the years, at great financial cost. It is now time that these Countries remember this, and treat us fairly – A LEVEL PLAYING FIELD FOR AMERICAN WORKERS.”Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, told Newsweek: “The most startling fact about this list is how many of the top states are ones that President Trump won in the 2024 presidential election. Then again, looking at the high percentages of voters who expect these potential tariffs to affect both the price of certain items and their personal finances, many of these same voters may have been aware of the risks and voted for the current administration regardless of concerns.”The past few years of rampant inflation on everyday items and increasing interest rates on big purchases like cars and houses have left many Americans looking at who or what to point their fingers at for this economic distress. Even if tariffs produce short-term pain, clearly there are many living in these states who feel it’s a valid action to improve the long-term economic outlook of the United States.”Kevin Thompson, a finance expert and the founder and CEO of 9i Capital Group, told Newsweek: “The U.S. has an overwhelming reliance on Chinese imports, with many states sourcing a large percentage of their total imports from China. In some cases, these imports exceed those from our neighbors to the north or south.”
President Donald Trump speaks from the Oval Office after signing an executive order on February 11, 2025.
President Donald Trump speaks from the Oval Office after signing an executive order on February 11, 2025.
Andrew Harnik/Getty Images
Michael Ryan, a finance expert and the founder of MichaelRyanMoney.com, told Newsweek: “What’s fascinating (and honestly a bit heartbreaking) is how the biggest impact lands on states that are already walking an economic tightrope. These states often have less diverse economies and fewer cushions to absorb economic shocks.”HR consultant Bryan Driscoll told Newsweek: “Trump’s tariffs are nothing short of an economic grenade, and the states getting hit the hardest are, ironically, the ones often voting for him. These states and citizens are going to learn a hard lesson—tariffs aren’t a tax on foreign countries; they’re a tax on Americans.”When those tariffs hit, businesses in these states will face higher costs, which means job losses, price hikes, and economic instability. Meanwhile, states with diversified trade portfolios will largely dodge the direct fallout.”What Happens NextThe Trump administration is still determining the exact tariff rates for each country under the new tariff policy.”To prepare for higher prices, people should focus on building a stronger financial cushion,” Thompson said.”During the pandemic, I advised having an emergency fund covering at least six to nine months of expenses. Given the possibility of spending slowdowns leading to layoffs, I now suggest extending that to 12 months,” he said. “Adjusting spending habits is also key. More people are cutting back, living on less, and shopping with more intent. Being mindful of how money is spent now will help ease the burden of rising costs in the months ahead.”
