MILWAUKEE, Wis. (WRN) — Bracing for tariff impacts in Wisconsin.
James Vanderloo, Head at global freight forwarder OEC Group Milwaukee, says businesses importing from Canada, Mexico and China are unlikely to take on the costs that come with tariffs
“When you’re looking at things at 10 – 25%, it’s really hard for businesses to be able to justify absorbing all that cost. So typically they’ll pass it on to the consumer,” Vanderloo said.
He says that especially applies to small businesses and manufacturers which are a major part of Wisconsin’s economy.
“I think there’s no way that they won’t have to pass on the cost of the consumer. That’s basically what all the leaders have told us is that they have to. There’s really no choice in the matter,” Vanderloo said.
A recent Wisconsin Manufacturers and Commerce survey found 56 percent of respondents opposing 25 percent tariffs on Canada and Mexico, and half predicting those would have a negative impact on their businesses.
