US state budgets will not be much affected in the near term by additional tariffs on US-China trade, Fitch Ratings says. However, there could be some regional pressure if an industry that is heavily dependent on imported Chinese products is heavily concentrated in a particular business sector. In the long run, the cumulative effect of increasing bilateral tariffs and/or a broader trade conflict could eventually lead to a combination of higher unemployment, lower income and lower state tax revenues. On July 10, the Trump administration announced that it would assess 10% tariffs on an additional $200 billion worth of ... (full story)