Stock Market Plummets as Trump Announces New Tariff War

While Trump and his base cheer on the strongman isolationism, Thune’s constituents in his home state of South Dakota could potentially suffer. The state’s entire economy is reliant on agriculture—it exports soybeans, corn, and beef primarily, according to a Politico analysis. And it just so happens that China and Mexico are the biggest export markets for U.S. agriculture.

Tariffs against these countries would cripple South Dakota’s economy, as they did in 2018 when Trump enacted the very same tariffs during his trade war. Senators in similar precarious situations are looking to Thune to talk the president down.

“Obviously the president is somebody who sees great value in the use of tariffs as a tool and we’ll have, I’m sure, lots of conversations,” Thune told Politico, striking a diplomatic chord. “People up here have different views about how and when to use them but I see value when they are used in a targeted way.”