Amid President Trump’s steep import taxes, most sectors of Louisiana’s economy are expected to suffer, according to economist Dr. Loren Scott. He emphasizes that economists generally oppose tariffs, calling them “an evil plan.” However, a few industries may benefit. The Louisiana timber industry is poised to benefit from reduced competition from Canadian wood…
“And #2 from plywood coming in from China, or plywood coming in from anywhere, but China, there’s a lot of plywood that comes into this country from China that’s gonna reduce the amount of competition.”
Scott says one possible exception outside of Louisiana is Hyundai, which recently announced a 5-billion-dollar investment in a new steel plant to supply its car factories in Alabama and Georgia.
“And so, they will now have steel that is relatively inexpensive compared to foreign steel that’s coming in with a 25% tariff on it.”
Similarly, commercial seafood producers, particularly shrimpers, could benefit from reduced foreign competition. Aside from these, Scott says not many more will benefit from Trump’s tariffs.
“It’s really tough to think of many others off the top of my head that benefit, but certainly those will.”
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