American States Feel The Hit Due To Trump Trade War
Wisconsin is one of the American states which still has its hopes pinned to Donald Trump. It is one of those economies that derives its output from farming and factories, both industries worst hit this term, thanks to Trump’s trade wars. Other states that have been affected include Indiana, Iowa, Kentucky and Louisiana. There is an evident slowdown on production in these states, due to the pull down of prices and oversupply which was never consumed for one or the other reason. Wisconsin’s dairy sector has also taken a big hit with a reported 634 of the state’s roughly 8,000 dairy farms being closed down this year itself. The trade war with China is to be solely blamed for low exports of milk and dairy products. According to the Bureau of Economic Analysis, manufacturing has also been hit by tariffs and trade uncertainty. Wisconsin factory payrolls are down 1.6% in the past year. State factory output grew at a 0.5% annual rate in the nine months through June, c...