Wisconsin Industries Face Uncertainty Amid US-Canada Tariffs

Wisconsin industries are bracing for uncertainty amid the imposition of $20 billion worth of tariffs on Canada by both countries. The University of Wisconsin-Madison's Steven Deller, an emeritus professor in the Department of Agriculture and Applied Economics, says it will take at least a year or two for the full impact to work through the economy.

However, industries could feel the effects sooner, within a month from now. 'This is where that uncertainty comes into play,' Deller said, adding that businesses are in a 'wait and see mode' as they are hesitant to make major investments or changes to their supply chains due to the tariffs.

Last year, Wisconsin exported about $7.5 billion worth of goods and services to Canada and imported $5.7 billion. As the industry adjusts to the new tariffs, some may absorb the costs while others will pass them on to consumers.