Trump's attacks on Mass. hit economy in ‘the gut,' Greater Boston Chamber boss says

Yahoo

19-05-2025

President Donald Trump's trade war, his immigration policies, and his attacks on higher education hit the Bay State's economy right 'in the gut,' further darkening an already complicated business picture.
That's the analysis that Jim Rooney, the president and CEO of the Greater Boston Chamber of Commerce, offered Sunday during an appearance on WBZ-TV's 'Keller @Large' program.
Massachusetts already was struggling with economic competitiveness and job creation issues before Trump returned to office in January, Rooney told host Jon Keller.
'Now you layer on job-impacting types of federal policies like tariffs, like research funding, like immigration, and that was going to be tough anyway,' Rooney said.
'And ... if you look at where our jobs are, [with] high concentrations in life sciences and medicine ... this is right in the gut of the Massachusetts economy,' he continued.
Trump's ongoing war with Harvard University, some of which is now in the hands of a federal judge, has provided a vivid illustration of that impact. The Cambridge-based university now faces nearly $3 billion in federal funding cuts.
Those concerns are further underlined by new research by Mark Williams, a master lecturer in finance at Boston University, concluding that the Republican White House's policies could result in billions of dollars in lost revenue and tens of thousands of job losses as early as next year.
That's because, compared to other states, the Bay State's economy 'disproportionately' depends on such sectors as life sciences, higher education, trade and tourism, Williams said. All of those already have been — or will be hit — by Trump's economic policies.
'Here in Massachusetts, we really have a knowledge-based economy,' Williams said in a statement.
'We're a top-20 economy by size of GDP, but yet we're the third-largest recipient of National Institutes of Health (NIH) funding. We have the fifth-largest percentage of immigrants in the country, larger than Texas as a percentage of our immigrant population to the overall population," he continued. 'And because of our maritime past, 9% of our GDP is tied up with trade.'
Speaking to Rooney on Sunday, Keller alluded to Williams' findings. The regional business leader said he wasn't shocked by them.
Rooney said he's been trying to contain any potential damage by reaching out to leaders in other states to promote the scientific and economic importance of research funding.
'As you think about federal issues, we're the bluest and blue states, and right now, [there's a] Republican-controlled White House [and] House and Senate,' he said. 'So our approach has been coalition-building.'
That effort now includes 60 chambers of commerce in more than 30 states, he said.
'We're going to lobby. We're going to go to Washington, and we're going to sign onto joint letters,' he said, 'We're going to try to make that case that what is happening at home.'
Williams' warnings, meanwhile, reflect those of Massachusetts' elected officials, including Democratic Gov. Maura Healey, and others.
Last week, responding to what her office described as the uncertainty brought on by Trump's attacks on federal funding, Healey's office announced she was imposing a hiring freeze across the executive branch.
Read More: These key public services won't be hit by the state's hiring freeze, Mass. Gov. Healey says
Speaking to reporters after she attended the grand opening of the Lego Group's new headquarters in Boston's Back Bay, the Democratic governor kept up her criticism of the actions of Trump and his Republican allies on Capitol Hill as they slash social safety net programs to underwrite tax cuts.
Read More: Gov. Healey: SNAP cuts will 'force Mass. families to go hungry'
'These cuts by the Trump administration, unfortunately, have real consequences. I look at the [proposed Republican] cuts to the [Supplemental Nutrition Assistance Program]. We've got 7 million people in the state, and a million rely on SNAP benefits,' Healey said. 'We're talking seniors, we're talking single moms, we're talking children, and he's cutting that.'
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