Eight local business representatives recently had a roundtable with Senator Tammy Baldwin focused on the impacts of federal tariff policies. While some business owners shared current examples of increased expenses and decreased demand, others spoke more generally about the challenges of navigating uncertainty. At a recent MMAC event, economist Brian Beaulieu reminded attendees of the myriad demographic and infrastructure challenges we will face should domestic manufacturing return.
Business Takeaway: As we saw in years past, tariff policies can have an immediate and dramatic effect on businesses that rely on such goods and services (e.g., a signed contract with material costs that are no longer realistic or affordable). While there is much uncertainty around tariffs, there are a number of strategies you might employ to better prepare your company for whatever is to come. Contact us if you have questions about what your company can do.