Wisconsin exports to Canada are in the most danger from retaliatory tariffs, with nearly $718 million in exports targeted, a new report shows.
Over $1 billion in Wisconsin exports are being hit with retaliatory tariffs by some of the United States’ biggest trade allies this week.
Thomas Donohue, president and CEO of the U.S. Chamber of Commerce, calls tariffs “taxes that raise prices for everyone.” He says the continual ramping up of trade barriers between these countries will “only lead to a trade war that will cost American jobs and economic growth.”
The chamber has created a state-by-state report to show how the escalating situation could hurt U.S. industries, arguing that tariffs on exports to countries like Canada, Mexico, the EU and China will only make American-made goods more expensive.
Targeted exports from Wisconsin to Canada include handkerchiefs, tissues and paper pulp towels, $117 million; toilet paper, $58 million; and bread, pastry, cakes and puddings, $46 million.
About $134 million in exports to Mexico are being hit with tariffs, cheese being the biggest category with $31 million. The state’s biggest ag export, cranberries, make up the second biggest category with over $15 million.
As for exports to European Union countries, nearly $98 million are being targeted with retaliatory tariffs. These include kidney beans and white pea beans, $22 million; cranberry juice, $15 million; and stainless steel pipes, $10 million.
Finally, total exports to China being hit with tariffs equal about $90 million. These include whey, $47 million; ginseng roots, $14 million; and cranberries, $11 million.
The report also shows over 800,000 Wisconsin jobs are supported by global trade.
By the chamber’s count, other states being hit particularly hard by the tariffs are: Texas, with $3.9 billion in exports hit with tariffs; Alabama, with $3.6 billion; South Carolina, $3 billion; Michigan, $2.3 billion; and Pennsylvania, $1.7 billion;.
See the report here: http://www.uschamber.com/tariffs
See a fact sheet for Wisconsin: http://www.uschamber.com/sites/default/files/tariff_data/one_pagers/wi.pdf
–By Alex Moe