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Stock Price Reactions to Trump Tariff Announcements (2015-2025): An Event Study of U.S. Export-Oriented Firms

Olsson Mörk, Axel LU and Selting, Adrian (2025) NEKH03 20251
Department of Economics
Abstract
This thesis examines how heterogeneous U.S. firms respond to trade policy announcements issued by President Donald Trump during his two administrations (2017–2021 and from 2025 onward). The results imply that among the 144 firms studied, export-oriented firms were more negatively affected by the trade policy announcements chosen for this study than non-export-oriented firms. These findings are consistent with theoretical expectations based on the Efficient Market Hypothesis (EMH) and firm-level models of international trade. However, generalizations should be interpreted carefully as to the limitations of this study.
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author
Olsson Mörk, Axel LU and Selting, Adrian
supervisor
organization
course
NEKH03 20251
year
type
M2 - Bachelor Degree
subject
keywords
Protectionism, Heterogeneous firm models, Stock market event studies, Presidential tariff announcements.
language
English
id
9212722
date added to LUP
2025-12-08 08:36:43
date last changed
2025-12-08 08:36:43
@misc{9212722,
  abstract     = {{This thesis examines how heterogeneous U.S. firms respond to trade policy announcements issued by President Donald Trump during his two administrations (2017–2021 and from 2025 onward). The results imply that among the 144 firms studied, export-oriented firms were more negatively affected by the trade policy announcements chosen for this study than non-export-oriented firms. These findings are consistent with theoretical expectations based on the Efficient Market Hypothesis (EMH) and firm-level models of international trade. However, generalizations should be interpreted carefully as to the limitations of this study.}},
  author       = {{Olsson Mörk, Axel and Selting, Adrian}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{Stock Price Reactions to Trump Tariff Announcements (2015-2025): An Event Study of U.S. Export-Oriented Firms}},
  year         = {{2025}},
}