A wonderful overview is offered in this report, out right now — though I’d say the title seemingly understates the state of affairs confronting Wisconsin.
Manufacturing and agriculture play an outsized function in Wisconsin’s economic system, making exports important. But because the mid-2010s, the worth of these exports has fallen each statewide and within the Milwaukee space, the highest exporting area in Wisconsin. Now newly enacted U.S. tariffs are triggering retaliatory actions by some main buying and selling companions, making 2025 a bumpy trip to this point for a lot of Wisconsin companies and farmers.
As indicated within the graph beneath, Wisconsin by no means actually recovered in actual export phrases from the primary Trump commerce struggle, which began in April/Could 2018.
From my very own perspective, Wisconsin as a medium trade heavy and commerce dependent state goes to undergo because it did after the 2018 tariffs.
Comparisons with the commerce struggle of 2018 are going to be deceptive. We haven’t even seen tariffs successfully applied within the information by way of March. “Liberation Day” was in April…And right here is commerce coverage uncertainty (as measured by Baker, Bloom and Davis):
Commerce coverage uncertainty in March dwarfs any seen within the commerce struggle of 2018-19.
