News Summary
Wisconsin business leaders express concerns over economic uncertainty due to tariffs impacting operations. Senator Tammy Baldwin discusses the situation with local businesses at Lakefront Brewery, where sales have decreased amid increased costs. Many local entrepreneurs report drops in sales and uncertainty about the future, while a recent survey indicates a majority expect profitability despite challenges. The economic impact of tariffs, especially on roofing materials and other imports, raises significant issues for businesses in the region.
Milwaukee, Wisconsin – Wisconsin business leaders are expressing growing concerns over economic uncertainty amid ongoing tariff confusion that is affecting their operations. During a recent meeting with local business leaders at Lakefront Brewery, Democratic Senator Tammy Baldwin discussed these issues and their implications for the state’s economy.
Lakefront Brewery, known for its gluten-free beer, reported a 4% sales decrease for its product New Grist, attributing this decline to reduced purchases from Canada. The brewery is also facing higher costs for spare parts from equipment suppliers, further straining its financial performance.
Cost increases due to tariffs were echoed by other local businesses. Jim McGuigan, owner of Energy Masters LLC, highlighted that roofing materials, particularly flashing, have surged in price as a result of tariffs on imports from China. Compounding this issue, he noted the challenge of sourcing American-made roofing nails, which are currently all manufactured in China. This situation presents significant hurdles for businesses relying on these materials.
Another local entrepreneur, Natasha Broxton, president of Select Auto Parts & Sales, Inc., shared her concern, noting a 10% decrease in sales and expressing uncertainty about how tariffs will continue to affect small businesses in the future.
Senator Baldwin acknowledged that while targeted tariffs might be considered in response to unfair trade practices, the prevailing circumstances have created widespread confusion and chaos among business owners.
Amidst these discussions, a White House spokesman remarked that President Trump is actively addressing trade issues and called for cooperation with the administration from Democratic leaders. President Trump reiterated his commitment to domestic manufacturing and his zero-tolerance stance on unfair trade practices, particularly from China.
A recent survey conducted by Wisconsin Manufacturers and Commerce (WMC) revealed that 36% of state business leaders identify the national economy as their primary concern. Additionally, 13% expressed concern over global economic conditions, while health care costs and labor availability were also significant issues cited in the survey. WMC president and CEO Kurt R. Bauer emphasized the detrimental impact of uncertainty on economic decision-making.
The survey indicated a slight improvement in the labor market, with the percentage of employers struggling to find workers dropping from 63% to 52%, the lowest figure recorded in over a decade. Despite these issues, Wisconsin’s employment rate is currently at 3.3%, which is lower than the national average of 4.2%.
While challenges persist, about 68% of business leaders feel that Wisconsin’s economy is in a “moderate” state. Furthermore, 92% anticipate that their businesses will remain profitable over the next six months, and 86% of surveyed businesses reported profitability in the last half-year.
When asked about measures that could assist their businesses, 38% cited lower health care costs as a priority, while 23% requested regulatory reforms to help alleviate burdens.
As business leaders navigate these challenges, the recently published Wisconsin 275 profiles the most influential business leaders in the state, covering a range of industries. This recognition highlights the adaptability and resilience of Wisconsin’s business community in the face of economic uncertainties.
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Additional Resources
- BizTimes: Decisions Wisconsin Business Leaders Wish They Didn’t Make
- Milwaukee Journal Sentinel: Milwaukee Business Leaders Say Tariffs Uncertainty Has Them on Edge
- Spectrum News: Survey – WMC – Wisconsin Business Economy Hiring
- Google Search: Wisconsin Business Leaders
- BizTimes: Wisconsin 275 – The State’s Most Influential Business Leaders
- Wikipedia: Wisconsin
Author: STAFF HERE MILWAUKEE WRITER
MILWAUKEE STAFF WRITER The MILWAUKEE STAFF WRITER represents the experienced team at HEREMilwaukee.com, your go-to source for actionable local news and information in Milwaukee, Milwaukee County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Summerfest, Milwaukee Film Festival, and the Milwaukee Boat Show. Our coverage extends to key organizations like the Metropolitan Milwaukee Association of Commerce and Visit Milwaukee, plus leading businesses in manufacturing and brewing that power the local economy such as Harley-Davidson and MillerCoors. As part of the broader HERE network, we provide comprehensive, credible insights into Wisconsin's dynamic landscape.
