While most sectors of Louisiana’s economy are expected to suffer from President Trump’s steep taxes on imports, economist Dr. Loren Scott says there are some state industries that could benefit. As the Louisiana Radio Network reports, Scott says less competition could help the state’s timber, steel, and seafood industries.
Scott says Louisiana’s timber industry is poised to benefit from reduced competition from Canadian Wood. And the Southern Shrimp Alliance is hailing the new tariffs, saying they impose 10-to-46% duties on countries exporting shrimp to the U.S. The Alliance points out that those shrimp imports have led to a significant drop in wholesale prices, with the U.S. shrimp industry losing nearly 50% of its market value in recent years.
But Scott adds that beyond timber, steel and seafood, “It’s really tough to think of many others off the top of my head that’d benefit but certainly those will.” Scott says economists generally oppose tariffs, with some analysts even calling them, “an evil plan.”
