Wyoming

Wyoming's economy is the most energy-concentrated in America, and tariffs create a complex calculus for the nation's least-populated state. Wyoming produces 40% of all US coal — more than any other state — and while thermal coal faces declining domestic demand, metallurgical coal and thermal exports to Asia are threatened by retaliatory tariffs. The state's soda ash industry is a hidden trade giant: Wyoming's Green River Basin contains the world's largest natural soda ash (trona) deposits, producing 90% of US soda ash used in glass manufacturing worldwide. China's retaliatory tariffs on soda ash directly threaten Wyoming's most globally competitive product. The state's oil and gas production in the Powder River Basin faces tariffs on imported drilling equipment and steel pipe. Wyoming's cattle ranchers — the state is 97% rangeland — face retaliatory tariffs on beef exports to Japan and China. The state's tiny population (580,000) means trade losses are amplified per capita. Wyoming has no income tax, but tariff-driven increases in consumer goods prices effectively create a regressive consumption tax. The state's growing wind energy and data center sectors (Microsoft in Cheyenne) depend on imported equipment and hardware subject to tariffs.