Economically, the embargo devastated American shipping exports and cost the American economy about 8 percent in decreased gross national product in 1807. With the embargo in place, American exports declined by 75%, and imports declined by 50%—the act did not completely eliminate trade and domestic partners. Before the embargo, exports to the United States reached $108 million. One year later, they were just over $22 million.
Yet Britain and France, locked in the Napoleonic Wars, were not greatly damaged by the loss of trade with Americans. So the embargo intended to punish Europe's greatest powers instead negatively impacted ordinary Americans.
Although the western states in the Union were relatively unaffected, as they had at that point little to trade, other parts of the country were hit hard. Cotton growers in the South lost their British market entirely. Merchants in New England were the hardest hit. In fact, discontent was so widespread there that there was serious talk by local political leaders of seceding the from Union, decades before the Nullification Crisis or the Civil War.