May 23, 2025
GBH All Things Considered recently published a two-part series featuring Mark Williams, Master Lecturer of Finance, sounding the alarm on what he terms the “Trump trifecta”—a combination of federal policies involving high tariffs, immigration crackdowns, and funding cuts – that he warns could significantly harm Massachusetts’ economy.
Williams warns that Massachusetts, reliant on innovation, research, and global talent, is especially vulnerable to federal policies on high tariffs, immigration, and funding cuts. Immigrants make up about 20% of the state’s population and 23% of its workforce, many in high-skilled fields like life sciences and STEM. Curtailing immigration could worsen labor shortages and strain the economy.
He estimates these combined policies could shrink Massachusetts’ GDP by $18.6 billion by 2026, nearly 3%, and eliminate around 140,000 jobs.
To counter these threats, Williams proposes numerous actions including an “economic war room” to help state leaders respond strategically to disruptive federal policy shifts impacting sectors such as education, healthcare, and technology.
His research underscores the need for Massachusetts to proactively safeguard its economic future
