That’s the title of Wisconsin Coverage Discussion board Focus #9 launched earlier this week.
Right here’s what Wisconsin imports in the best way of products:
Right here’s what Wisconsin exports (from Wisconsin Coverage Discussion board, Temporary #6, 2025):
Discover that industrial equipment and electrical equipment are the highest two classes in each imports and export; that’s intra-industry commerce.
What these two graphs don’t inform you is what share of exports are accounted for by imported inputs. I don’t have this info on the Wisconsin state degree however listed below are estimates on the nationwide degree. I’ve circled in purple the corresponding classes, within the determine under.
Supply: Slok, “Overseas worth added in US exports,” Apollo, Could 1, 2025.
Why is that this necessary to Wisconsin. Assuming these ratios are consultant for Wisconsin, which means tariffs on imports into the US lead to adverse efficient price of safety for exports.
Take into account an exported machine instrument, which initially bought for $100,000 (underneath free commerce). If a tariff of 10% is utilized to imported inputs, of complete worth of $40,000. The Then the efficient price of safety is -6.7% (=((100,000-44,000)/60,000))-1). = 0.067.
Going to actuality, if imported parts account for about 12.5%, and a 30% tariff is utilized to inputs (say they’re Chinese language). then the efficient price of safety is -4.1%…
Listed below are Wisconsin imports via March:
Determine 1: Wisconsin items imports in hundreds of thousands $ (blue), in hundreds of thousands 2000$ (tan), each seasonally adjusted. Sequence adjusted by writer utilizing X-13 in logs. Deflation utilizing nationwide all-commodities worth index. NBER outlined peak-to-trough recession dates shaded grey. Supply: BEA, BLS, NBER, and writer’s calculations.
That’s the title of Wisconsin Coverage Discussion board Focus #9 launched earlier this week.
Right here’s what Wisconsin imports in the best way of products:
Right here’s what Wisconsin exports (from Wisconsin Coverage Discussion board, Temporary #6, 2025):
Discover that industrial equipment and electrical equipment are the highest two classes in each imports and export; that’s intra-industry commerce.
What these two graphs don’t inform you is what share of exports are accounted for by imported inputs. I don’t have this info on the Wisconsin state degree however listed below are estimates on the nationwide degree. I’ve circled in purple the corresponding classes, within the determine under.
Supply: Slok, “Overseas worth added in US exports,” Apollo, Could 1, 2025.
Why is that this necessary to Wisconsin. Assuming these ratios are consultant for Wisconsin, which means tariffs on imports into the US lead to adverse efficient price of safety for exports.
Take into account an exported machine instrument, which initially bought for $100,000 (underneath free commerce). If a tariff of 10% is utilized to imported inputs, of complete worth of $40,000. The Then the efficient price of safety is -6.7% (=((100,000-44,000)/60,000))-1). = 0.067.
Going to actuality, if imported parts account for about 12.5%, and a 30% tariff is utilized to inputs (say they’re Chinese language). then the efficient price of safety is -4.1%…
Listed below are Wisconsin imports via March:
Determine 1: Wisconsin items imports in hundreds of thousands $ (blue), in hundreds of thousands 2000$ (tan), each seasonally adjusted. Sequence adjusted by writer utilizing X-13 in logs. Deflation utilizing nationwide all-commodities worth index. NBER outlined peak-to-trough recession dates shaded grey. Supply: BEA, BLS, NBER, and writer’s calculations.
That’s the title of Wisconsin Coverage Discussion board Focus #9 launched earlier this week.
Right here’s what Wisconsin imports in the best way of products:
Right here’s what Wisconsin exports (from Wisconsin Coverage Discussion board, Temporary #6, 2025):
Discover that industrial equipment and electrical equipment are the highest two classes in each imports and export; that’s intra-industry commerce.
What these two graphs don’t inform you is what share of exports are accounted for by imported inputs. I don’t have this info on the Wisconsin state degree however listed below are estimates on the nationwide degree. I’ve circled in purple the corresponding classes, within the determine under.
Supply: Slok, “Overseas worth added in US exports,” Apollo, Could 1, 2025.
Why is that this necessary to Wisconsin. Assuming these ratios are consultant for Wisconsin, which means tariffs on imports into the US lead to adverse efficient price of safety for exports.
Take into account an exported machine instrument, which initially bought for $100,000 (underneath free commerce). If a tariff of 10% is utilized to imported inputs, of complete worth of $40,000. The Then the efficient price of safety is -6.7% (=((100,000-44,000)/60,000))-1). = 0.067.
Going to actuality, if imported parts account for about 12.5%, and a 30% tariff is utilized to inputs (say they’re Chinese language). then the efficient price of safety is -4.1%…
Listed below are Wisconsin imports via March:
Determine 1: Wisconsin items imports in hundreds of thousands $ (blue), in hundreds of thousands 2000$ (tan), each seasonally adjusted. Sequence adjusted by writer utilizing X-13 in logs. Deflation utilizing nationwide all-commodities worth index. NBER outlined peak-to-trough recession dates shaded grey. Supply: BEA, BLS, NBER, and writer’s calculations.
That’s the title of Wisconsin Coverage Discussion board Focus #9 launched earlier this week.
Right here’s what Wisconsin imports in the best way of products:
Right here’s what Wisconsin exports (from Wisconsin Coverage Discussion board, Temporary #6, 2025):
Discover that industrial equipment and electrical equipment are the highest two classes in each imports and export; that’s intra-industry commerce.
What these two graphs don’t inform you is what share of exports are accounted for by imported inputs. I don’t have this info on the Wisconsin state degree however listed below are estimates on the nationwide degree. I’ve circled in purple the corresponding classes, within the determine under.
Supply: Slok, “Overseas worth added in US exports,” Apollo, Could 1, 2025.
Why is that this necessary to Wisconsin. Assuming these ratios are consultant for Wisconsin, which means tariffs on imports into the US lead to adverse efficient price of safety for exports.
Take into account an exported machine instrument, which initially bought for $100,000 (underneath free commerce). If a tariff of 10% is utilized to imported inputs, of complete worth of $40,000. The Then the efficient price of safety is -6.7% (=((100,000-44,000)/60,000))-1). = 0.067.
Going to actuality, if imported parts account for about 12.5%, and a 30% tariff is utilized to inputs (say they’re Chinese language). then the efficient price of safety is -4.1%…
Listed below are Wisconsin imports via March:
Determine 1: Wisconsin items imports in hundreds of thousands $ (blue), in hundreds of thousands 2000$ (tan), each seasonally adjusted. Sequence adjusted by writer utilizing X-13 in logs. Deflation utilizing nationwide all-commodities worth index. NBER outlined peak-to-trough recession dates shaded grey. Supply: BEA, BLS, NBER, and writer’s calculations.
