Economists are analyzing how President-elect Donald Trump’s tariffs and policies could shape the economic outlook for 2025, both for Michigan and nationwide. They’re watching everything from the possibility of tariffs on imported goods to the weather and potential labor strikes.
Jason Miller is a supply chain professor at Michigan State University and says the first major supply-chain story of 2025 could unfold as early as January 15, involving the International Longshoremen’s Association. He says the East Coast and Gulf port contracts are set to expire, raising the threat of a second round of port strikes.
“So we may see a Port Strike, Round Two,” Miller said. “No one is clear yet on how the incoming Trump administration would respond to that. Would they evoke the Taft-Hartley Act to end that strike or would they let that play out?”
Miller adds they’re also monitoring the potential for extreme weather events in early 2025, like the polar vortex back in 2018, which could have a substantial impact on the economy.
Miller predicts importers will stockpile Chinese goods to avoid tariffs. He says past tariffs failed to create jobs and instead drove up costs, raising prices for consumers.
