{"id":"https://openalex.org/W4406793846","doi":"https://doi.org/10.1371/journal.pone.0313204","title":"Trump tariffs and the U.S. defense industry","display_name":"Trump tariffs and the U.S. defense industry","publication_year":2025,"publication_date":"2025-01-24","ids":{"openalex":"https://openalex.org/W4406793846","doi":"https://doi.org/10.1371/journal.pone.0313204","pmid":"https://pubmed.ncbi.nlm.nih.gov/39854373","pmcid":"https://www.ncbi.nlm.nih.gov/pmc/articles/11759384"},"language":"en","primary_location":{"id":"doi:10.1371/journal.pone.0313204","doi":"https://doi.org/10.1371/journal.pone.0313204","is_oa":true,"landing_page_url":"https://doi.org/10.1371/journal.pone.0313204","pdf_url":"https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0313204&type=printable","source":{"id":"https://openalex.org/S202381698","display_name":"PLoS ONE","issn_l":"1932-6203","issn":["1932-6203"],"is_oa":true,"is_in_doaj":true,"is_core":true,"listed_in":["anvur-class-a","anvur-scientific","cwts-core","doaj","dongbi-c","doyens","erih-plus","jufo-1","ki-jl-1","medline","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310315706","host_organization_name":"Public Library of Science","host_organization_lineage":["https://openalex.org/P4310315706"],"host_organization_lineage_names":["Public Library of Science"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"PLOS ONE","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref","doaj","pubmed"],"open_access":{"is_oa":true,"oa_status":"gold","oa_url":"https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0313204&type=printable","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5091257640","display_name":"Jeroen Klomp","orcid":"https://orcid.org/0000-0002-4424-669X","observed_orcids":["https://orcid.org/0000-0002-4424-669X"]},"institutions":[{"id":"https://openalex.org/I4210119716","display_name":"Netherlands Defence Academy","ror":"https://ror.org/02dnvjf04","country_code":"NL","type":"facility","lineage":["https://openalex.org/I4210094335","https://openalex.org/I4210119716","https://openalex.org/I4210140876"]},{"id":"https://openalex.org/I913481162","display_name":"Wageningen University & Research","ror":"https://ror.org/04qw24q55","country_code":"NL","type":"education","lineage":["https://openalex.org/I913481162"]}],"countries":["NL"],"is_corresponding":true,"raw_author_name":"Jeroen Klomp","raw_affiliation_strings":["Netherlands Defense Academy, Breda, The Netherlands","Wageningen University and Research, Wageningen, The Netherlands"],"raw_orcid":"https://orcid.org/0000-0002-4424-669X","affiliations":[{"raw_affiliation_string":"Netherlands Defense Academy, Breda, The Netherlands","institution_ids":["https://openalex.org/I4210119716"]},{"raw_affiliation_string":"Wageningen University and Research, Wageningen, The Netherlands","institution_ids":["https://openalex.org/I913481162"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5091257640"],"corresponding_institution_ids":["https://openalex.org/I4210119716","https://openalex.org/I913481162"],"apc_list":{"value":2382,"currency":"USD","value_usd":2382},"apc_paid":{"value":2382,"currency":"USD","value_usd":2382},"fwci":13.5597,"has_fulltext":true,"cited_by_count":22,"citation_normalized_percentile":{"value":0.99086097,"is_in_top_1_percent":true,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":98,"max":99},"biblio":{"volume":"20","issue":"1","first_page":"e0313204","last_page":"e0313204"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.5249000191688538,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.5249000191688538,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11059","display_name":"Market Dynamics and Volatility","score":0.4207000136375427,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10128","display_name":"Global trade and economics","score":0.017899999395012856,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/steel-tariffs","display_name":"steel tariffs","score":0.8130000233650208},{"id":"https://openalex.org/keywords/aluminum-tariffs","display_name":"aluminum tariffs","score":1.0},{"id":"https://openalex.org/keywords/section-232","display_name":"Section 232","score":0.8949999809265137},{"id":"https://openalex.org/keywords/defense-industry","display_name":"defense industry","score":0.7730000019073486},{"id":"https://openalex.org/keywords/stock-returns","display_name":"stock returns","score":0.6150000095367432},{"id":"https://openalex.org/keywords/abnormal-returns","display_name":"abnormal returns","score":0.824999988079071},{"id":"https://openalex.org/keywords/trade-uncertainty","display_name":"trade uncertainty","score":0.8190000057220459},{"id":"https://openalex.org/keywords/investor-sentiment","display_name":"investor sentiment","score":0.8190000057220459},{"id":"https://openalex.org/keywords/import-restrictions","display_name":"import restrictions","score":0.7770000100135803},{"id":"https://openalex.org/keywords/national-security","display_name":"national security","score":0.5899999737739563},{"id":"https://openalex.org/keywords/trump-trade-policy","display_name":"Trump administration trade policy","score":0.7020000219345093}],"concepts":[{"id":"https://openalex.org/C2776060655","wikidata":"https://www.wikidata.org/wiki/Q52389","display_name":"Tariff","level":2,"score":0.7364890575408936},{"id":"https://openalex.org/C2775906566","wikidata":"https://www.wikidata.org/wiki/Q692412","display_name":"Trade war","level":3,"score":0.6772755980491638},{"id":"https://openalex.org/C155202549","wikidata":"https://www.wikidata.org/wiki/Q178803","display_name":"International trade","level":1,"score":0.5804651379585266},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.49976086616516113},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.48157787322998047},{"id":"https://openalex.org/C199728807","wikidata":"https://www.wikidata.org/wiki/Q2578557","display_name":"Equity (law)","level":2,"score":0.4562495946884155},{"id":"https://openalex.org/C18547055","wikidata":"https://www.wikidata.org/wiki/Q47417","display_name":"International economics","level":1,"score":0.4434542655944824},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4129365384578705},{"id":"https://openalex.org/C191935318","wikidata":"https://www.wikidata.org/wiki/Q148","display_name":"China","level":2,"score":0.18041247129440308},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.1295667588710785},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.10542935132980347},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0}],"mesh":[{"descriptor_ui":"D000535","descriptor_name":"Aluminum","qualifier_ui":"Q000191","qualifier_name":"economics","is_major_topic":false},{"descriptor_ui":"D003132","descriptor_name":"Commerce","qualifier_ui":"Q000191","qualifier_name":"economics","is_major_topic":true},{"descriptor_ui":"D003132","descriptor_name":"Commerce","qualifier_ui":"Q000331","qualifier_name":"legislation & jurisprudence","is_major_topic":true},{"descriptor_ui":"D006801","descriptor_name":"Humans","qualifier_ui":null,"qualifier_name":null,"is_major_topic":false},{"descriptor_ui":"D007221","descriptor_name":"Industry","qualifier_ui":"Q000191","qualifier_name":"economics","is_major_topic":true},{"descriptor_ui":"D007221","descriptor_name":"Industry","qualifier_ui":"Q000331","qualifier_name":"legislation & jurisprudence","is_major_topic":true},{"descriptor_ui":"D007449","descriptor_name":"Investments","qualifier_ui":"Q000191","qualifier_name":"economics","is_major_topic":false},{"descriptor_ui":"D011057","descriptor_name":"Politics","qualifier_ui":null,"qualifier_name":null,"is_major_topic":false},{"descriptor_ui":"D013232","descriptor_name":"Steel","qualifier_ui":"Q000191","qualifier_name":"economics","is_major_topic":true},{"descriptor_ui":"D014481","descriptor_name":"United States","qualifier_ui":null,"qualifier_name":null,"is_major_topic":false}],"locations_count":6,"locations":[{"id":"doi:10.1371/journal.pone.0313204","doi":"https://doi.org/10.1371/journal.pone.0313204","is_oa":true,"landing_page_url":"https://doi.org/10.1371/journal.pone.0313204","pdf_url":"https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0313204&type=printable","source":{"id":"https://openalex.org/S202381698","display_name":"PLoS ONE","issn_l":"1932-6203","issn":["1932-6203"],"is_oa":true,"is_in_doaj":true,"is_core":true,"listed_in":["anvur-class-a","anvur-scientific","cwts-core","doaj","dongbi-c","doyens","erih-plus","jufo-1","ki-jl-1","medline","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310315706","host_organization_name":"Public Library of Science","host_organization_lineage":["https://openalex.org/P4310315706"],"host_organization_lineage_names":["Public Library of Science"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"PLOS ONE","raw_type":"journal-article"},{"id":"pmh:oai:pubmedcentral.nih.gov:11759384","doi":null,"is_oa":true,"landing_page_url":"https://www.ncbi.nlm.nih.gov/pmc/articles/11759384","pdf_url":"https://pmc.ncbi.nlm.nih.gov/articles/PMC11759384/pdf/pone.0313204.pdf","source":{"id":"https://openalex.org/S2764455111","display_name":"PubMed Central","issn_l":null,"issn":null,"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1299303238","host_organization_name":"National Institutes of Health","host_organization_lineage":["https://openalex.org/I1299303238"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"PLoS One","raw_type":"Text"},{"id":"pmid:39854373","doi":null,"is_oa":false,"landing_page_url":"https://pubmed.ncbi.nlm.nih.gov/39854373","pdf_url":null,"source":{"id":"https://openalex.org/S4306525036","display_name":"PubMed","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1299303238","host_organization_name":"National Institutes of Health","host_organization_lineage":["https://openalex.org/I1299303238"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"PloS one","raw_type":"Journal Article"},{"id":"pmh:oai:library.wur.nl:wurpubs/642272","doi":null,"is_oa":true,"landing_page_url":"https://research.wur.nl/en/publications/trump-tariffs-and-the-u-s-defense-industry","pdf_url":"https://edepot.wur.nl/687249","source":{"id":"https://openalex.org/S4210201231","display_name":"Socio-Environmental Systems Modeling","issn_l":"2663-3027","issn":["2663-3027"],"is_oa":true,"is_in_doaj":false,"is_core":true,"listed_in":["cwts-core"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"ISSN: 1932-6203","raw_type":"Article/Letter to editor"},{"id":"pmh:oai:RePEc:plo:pone00:0313204","doi":null,"is_oa":false,"landing_page_url":"https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0313204","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"pmh:oai:doaj.org/article:1e8090cc0d1e43c399a5219309c7d407","doi":null,"is_oa":true,"landing_page_url":"https://doaj.org/article/1e8090cc0d1e43c399a5219309c7d407","pdf_url":null,"source":{"id":"https://openalex.org/S4306401280","display_name":"DOAJ (DOAJ: Directory of Open Access Journals)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by-sa","license_id":"https://openalex.org/licenses/cc-by-sa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"PLoS ONE, Vol 20, Iss 1, p e0313204 (2025)","raw_type":"article"}],"best_oa_location":{"id":"doi:10.1371/journal.pone.0313204","doi":"https://doi.org/10.1371/journal.pone.0313204","is_oa":true,"landing_page_url":"https://doi.org/10.1371/journal.pone.0313204","pdf_url":"https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0313204&type=printable","source":{"id":"https://openalex.org/S202381698","display_name":"PLoS ONE","issn_l":"1932-6203","issn":["1932-6203"],"is_oa":true,"is_in_doaj":true,"is_core":true,"listed_in":["anvur-class-a","anvur-scientific","cwts-core","doaj","dongbi-c","doyens","erih-plus","jufo-1","ki-jl-1","medline","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310315706","host_organization_name":"Public Library of Science","host_organization_lineage":["https://openalex.org/P4310315706"],"host_organization_lineage_names":["Public Library of Science"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"PLOS ONE","raw_type":"journal-article"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4406793846.pdf","grobid_xml":"https://content.openalex.org/works/W4406793846.grobid-xml"},"referenced_works_count":73,"referenced_works":["https://openalex.org/W9436945","https://openalex.org/W98031582","https://openalex.org/W616440211","https://openalex.org/W1910637791","https://openalex.org/W1970517215","https://openalex.org/W2012114394","https://openalex.org/W2019324182","https://openalex.org/W2055096851","https://openalex.org/W2058623488","https://openalex.org/W2067687811","https://openalex.org/W2077791698","https://openalex.org/W2081432842","https://openalex.org/W2110752212","https://openalex.org/W2119265021","https://openalex.org/W2122030147","https://openalex.org/W2130162792","https://openalex.org/W2134807435","https://openalex.org/W2146084247","https://openalex.org/W2146166473","https://openalex.org/W2154153720","https://openalex.org/W2172168943","https://openalex.org/W2551614796","https://openalex.org/W2801794410","https://openalex.org/W2810472995","https://openalex.org/W2888931260","https://openalex.org/W2891724379","https://openalex.org/W2892336416","https://openalex.org/W2917383934","https://openalex.org/W2922100653","https://openalex.org/W2965524613","https://openalex.org/W2976118977","https://openalex.org/W2982296987","https://openalex.org/W3013638598","https://openalex.org/W3026775711","https://openalex.org/W3033262811","https://openalex.org/W3033941201","https://openalex.org/W3041560750","https://openalex.org/W3043617920","https://openalex.org/W3080395694","https://openalex.org/W3081216009","https://openalex.org/W3083224647","https://openalex.org/W3088313475","https://openalex.org/W3096895351","https://openalex.org/W3112842746","https://openalex.org/W3121574779","https://openalex.org/W3122067750","https://openalex.org/W3122690455","https://openalex.org/W3123004048","https://openalex.org/W3124145263","https://openalex.org/W3124165781","https://openalex.org/W3124803558","https://openalex.org/W3135253024","https://openalex.org/W3136219327","https://openalex.org/W3159249138","https://openalex.org/W3185790347","https://openalex.org/W3195241933","https://openalex.org/W3216280875","https://openalex.org/W4211006366","https://openalex.org/W4213023707","https://openalex.org/W4226210829","https://openalex.org/W4240307802","https://openalex.org/W4244254576","https://openalex.org/W4256644007","https://openalex.org/W4284883529","https://openalex.org/W4285713186","https://openalex.org/W4289260492","https://openalex.org/W4293879905","https://openalex.org/W4301078081","https://openalex.org/W4382405308","https://openalex.org/W4383313418","https://openalex.org/W4392234362","https://openalex.org/W4402567790","https://openalex.org/W7021111487"],"related_works":["https://openalex.org/W3020862103","https://openalex.org/W7081702690","https://openalex.org/W4283789101","https://openalex.org/W3033262811","https://openalex.org/W4409662083","https://openalex.org/W2885747462","https://openalex.org/W3005849336","https://openalex.org/W4390155046","https://openalex.org/W7202216475","https://openalex.org/W2803399867"],"abstract_inverted_index":{"In":[0],"March":[1],"2018,":[2],"U.S.":[3,9,40,70,140],"President":[4,107,208],"Trump":[5],"announced":[6],"that":[7,59,84,126],"the":[8,24,29,36,44,49,54,65,69,88,93,99,106,113,129,132,149,160,163,168,177,184,187,194,201,205],"would":[10],"start":[11],"imposing":[12],"tariffs":[13,34,136],"on":[14,35,87,176],"steel":[15,133],"and":[16,134],"aluminum":[17,135],"imports":[18,116],"from":[19],"most":[20],"exporting":[21],"countries":[22],"around":[23,151],"world.":[25],"This":[26,103],"study":[27],"explores":[28],"impact":[30],"of":[31,39,68,95,98,115,131,165,170,180,186,204],"introducing":[32],"these":[33,60],"equity":[37],"return":[38],"defense":[41,45,71,141],"companies.":[42,142],"As":[43],"industry":[46],"stands":[47],"among":[48],"largest":[50],"metal":[51],"consumers":[52],"in":[53,148,159],"U.S.,":[55],"it":[56],"is":[57,85],"expected":[58],"import":[61],"restrictions":[62,111],"have":[63],"deteriorated":[64],"business":[66],"performance":[67],"industry.":[72],"For":[73],"this":[74],"study,":[75],"a":[76],"novel":[77],"trade":[78,110,181],"uncertainty":[79],"indicator":[80],"has":[81],"been":[82],"constructed":[83],"based":[86],"key":[89,153],"events":[90,155],"related":[91],"to":[92,108,118,139],"invocation":[94],"Section":[96],"232":[97],"Trade":[100],"Expansion":[101],"Act.":[102],"section":[104],"empowers":[105],"impose":[109],"when":[112],"quantity":[114],"threatens":[117],"impair":[119],"national":[120],"security.":[121],"My":[122],"empirical":[123],"analysis":[124],"reveals":[125],"investors":[127,173],"perceived":[128],"introduction":[130,179],"as":[137],"detrimental":[138],"The":[143],"negative":[144,195],"abnormal":[145],"stock":[146],"returns":[147],"days":[150],"several":[152],"tariff-related":[154],"evidence":[156],"this.":[157],"Already":[158],"period":[161],"before":[162],"Department":[164],"Commerce":[166],"released":[167],"findings":[169],"its":[171],"investigation,":[172],"were":[174],"speculating":[175],"possible":[178],"barriers.":[182],"However,":[183],"height":[185],"imposed":[188],"tariff":[189,206],"exceeded":[190],"their":[191],"expectations":[192],"since":[193],"sentiment":[196],"was":[197],"further":[198],"reinforced":[199],"after":[200],"official":[202],"announcement":[203],"by":[207],"Trump.":[209]},"counts_by_year":[{"year":2026,"cited_by_count":12},{"year":2025,"cited_by_count":10}],"updated_date":"2026-11-07T11:25:07.637180","created_date":"2025-01-25T00:00:00"}