Trump's Proposed Tariffs Could Cost U.S. Companies. Here Are the Most Vulnerable Industries
By Megan Leonhardt, Sabrina Escobar, Adam Levine, and Al Root. President-elect Donald Trump has promised to enact the largest tariff overhaul in generations, commencing with executive orders on Jan. 20, Inauguration Day. While the business community largely supported his presidential bid, his latest tariff proposals could cost many U.S. companies dearly.On the campaign trail, Trump pledged to increase tariffs on Chinese imports to the U.S. by 60% and implement a 10% duty on imports from all other countries. Postelection, he said he intends to impose an additional 25% tariff on Mexico and Canada. And in late December, he threatened the European Union with tariffs if member countries don't increase their purchases of U.S. oil and gas to reduce the "tremendous" trade gap with the U.S.If all of these tariff proposals go into effect, the average tariff rate will rise from 2.4% of the value of imported goods to 17.7%, according to estimates from the Tax Foundation. That would be the highest
