SEATTLE — Earlier this week, President Donald Trump announced widespread, aggressive tariffs on imports from dozens of countries that run trade surpluses with the United States, sending shockwaves through the global economy – and tumbling the stocks of local giants like Starbucks, Boeing and Amazon.

Boeing stock ended the trading day Thursday nearly 10% down. Seattle-based Starbucks dropped 10%, while Amazon fell 8%. 

On Friday, Boeing’s stock is still down 13%, with Amazon down 4% and Starbucks down 5%. 

Beyond the initial market dive, each of the three companies is expected to continue feeling the impacts of the tariffs on their business. 

Analysts expect that Boeing’s jets could become millions of dollars more expensive due to 25% tariffs levied on imported aluminum and steel. Starbucks will be forced to navigate some of the highest tariffs from one of its main coffee growers, Vietnam, which was hit with a 46% tax on all imported goods. 

Amazon ships many goods internationally, both to customers in the U.S. and other countries, so any number of its products could be impacted by the tariffs on either end. 

Dr. Brian Kelly, an associate professor of economics, said Amazon may also serve as a bellwether for recession fears. The company’s performance may indicate how the average consumer is feeling about the current state of the economy. 

“Amazon is a very procyclical company,” Kelly said. “If people are spending less, Amazon will do worse.” 

Lawmakers representing Washington state at the federal level are also bracing for future impacts to all three ports. A Port of Seattle commissioner said they’re seeing a big influx of shipping containers from exporters who are trying to transport as much as possible before the new tariffs kick in. 

Small businesses that rely on exports, like apple, cherry and dairy farmers, are also expecting to feel some impact. 

Former trading partners that have now been slapped with 20-30% taxes on their imports have retaliated with heavy penalties of their own, including Washington’s neighbor to the north, Canada, which is an important market for Washington farmers.

In response to the sweeping tariffs, Congress is attempting to pass legislation that would nullify at least the tariffs on Canada by nullifying the emergency declaration that Trump issued to push them through. In the latest effort, some Senate Republicans did choose to support the rollback; however, what will become of the bill in the Republican-controlled House remains to be seen. 

Sen. Maria Cantwell, who represents Washington, introduced legislation that would require Congressional approval on all new tariffs. The bill is called the Trade Review Act of 2025 and has multiple Republican co-sponsors.