Podcast
Talking Trade
Hosted by WisBusiness.com · EN
Talking Trade is a podcast produced by WisBusiness.com and hosted by Ken Wasylik, managing director, E.M Wasylik Associates, and Sandi Siegel, president and managing director, M.E. Dey & Co. The show features interviews with experts on trade policy, supply chains, economic trends and much more.
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Episodes
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Talking Trade Ep. 106 - Laura Baughman, Trade Partnership Worldwide
Aug 2000:19:17Tap to summarizeThe latest episode of “Talking Trade” features Laura Baughman, senior fellow with Trade Partnership Worldwide, on evolving U.S. trade policy. Baughman, who has worked with a variety of American businesses spanning multiple sectors, says tariffs are creating major uncertainty and confusion for companies. She’s a senior staff member for the Washington, DC-based international trade and economic research firm. “Nobody knows what to do, nobody knows who’s going to get hit and with how much and when,” she said. “And so onsequently, all of this uncertainty is pushing a lot of costs onto companies, even though there was earlier this year and until really recently, no extra tariffs had been imposed yet.” Still, she said many businesses were driven by uncertainty to stock up on imported supplies, taking a financial hit to store them in warehouses in anticipation of higher costs to come. Others are putting off investment decisions, even domestically. “Economic research has shown that this uncertainty is equivalent to a tariff in and of itself, sometimes on the order of 8% to 10%, depending on the product,” Baughman said, adding “the ability of companies to bear these costs, of course, depends enormously on whether they’re big companies or little companies.” She shares details on how larger companies are addressing these challenges, while smaller ones are “taking it on the chin.” Baughman said she expects much more tariff-related price increases on consumer prices as amassed inventories are diminished over time, likely in the fall or winter. “We’re also hearing tariff impacts on sectors you wouldn’t think, like car insurance,” she said. “Some car insurance companies, we’ve been told, are raising their premiums because it costs more to get a car repaired, because brake parts … have tariffs on them now, if they’re imported.” Meanwhile, spending on entertainment and food is “starting to slow” as consumers pull back amid the uncertain environment, she said. Talking Trade is hosted by E.M Wasylik Associates Managing Director Ken Wasylik and M.E. Dey & Co. President and Managing Director Sandi Siegel.
Transcribe →Talking Trade Ep. 105 - Kurt Bauer, Wisconsin Manufacturers & Commerce
Aug 5, 202500:14:54Tap to summarizeIn the latest episode of “Talking Trade,” Wisconsin Manufacturers & Commerce President and CEO Kurt Bauer emphasizes the state’s reliance on foreign markets for exported goods amid tariff-related uncertainty. Bauer highlights the central role of manufacturing in Wisconsin’s economy, calling it “our economic supersector” for creating jobs and wealth in the state. It makes up 18% of state GDP, compared to 12% for the Midwest and 8% nationally. The discussion explores how tariffs on raw materials are impacting exporters in Wisconsin. Bauer notes “our membership is a bit divided on this,” as some companies support the Trump administration’s tariffs while others are opposed. “It really depends on what you make or what you grow, where you sell it, where you source inputs, what your supply chain looks like,” he said. “So it really depends on those different factors, on how you evaluate you’re in support of what the president is trying to do.” Larger companies in WMC’s membership tend to be more opposed, Bauer says, noting tariffs have created uncertainty and confusion for many businesses. And while the situation has been “stabilizing a little bit,” pricing has remained a challenge due to market fluctuations, he added.“Access to markets is critical, as I indicated, we’re a manufacturing state and we need to export,” he said. “You need to have access to those markets, and there are retaliatory tariffs that have come into place that make some of our U.S. goods unaffordable.” But at the same time, the WMC members that support tariffs do so for “fundamental fairness” reasons and due to the opportunities they create, Bauer added. “We have opened our markets to foreign products basically since World War II, and other nations have not reciprocated completely … some of our members are just frustrated that we’ve opened our markets and other nations have not reciprocated,” he said. Meanwhile, frustration among foreign trade partners have led to “soft boycotts” of U.S. products, causing further challenges for already stressed supply chains. “The president of course is trying to grow manufacturing and the supply chain in the United States, which we understand and support, but the reality is that you just can’t snap your fingers and create a manufacturer that can make a specialty component, a precision part,” he said. Bauer says his counterparts in Canada are frustrated and angry, noting the tariff backlash has been particularly intense there. The show is hosted by E.M Wasylik Associates Managing Director Ken Wasylik and M.E. Dey & Co. President and Managing Director Sandi Siegel.
Transcribe →Talking Trade Ep. 104 - Sandi Siegel, ME Dey & Co.
Jul 29, 202500:21:58Tap to summarizeThe latest episode of “Talking Trade” features Sandi Siegel, president and managing director of ME Dey & Co., a Milwaukee-based customs broker. Siegel, typically one of the show’s co-hosts, is interviewed by fellow host Ken Wasylik, managing director of E.M. Wasylik Associates. The discussion focuses on how Siegel’s company is advising clients on navigating the uncertain tariff landscape. She shares insights on where tariffs stand on certain key commodities such as steel and aluminum, as well as how importers are being impacted under the current framework. “Everybody’s in need of working with their suppliers, and even big importers are challenged, you know, to work with their foreign suppliers,” she said, noting ME Dey & Co. is urging its clients to work with suppliers to ensure they have critical sourcing information to avoid higher tariffs. Siegel also pointed to the rising requirements from government agencies about supply chain transparency and the burden it places on importers, noting some of these tougher regulations are aimed at limiting the role of forced labor in supply chains. “You want to be able to show due diligence, right, but again, now more than ever there’s a price tag for not being able to get that information,” she said. The conversation underlines the importance of understanding each link in a given supply chain, as Siegel references rapid changes happening in U.S. policy. “It’s very hard to have supply chain resiliency in today’s environment … because we don’t know what’s around the corner,” she said.
Transcribe →Talking Trade Ep. 103 - Jack Rabenn, vice president of the Industrial Group at Crow Holdings
Jul 1, 202500:17:35Tap to summarizeIn the latest episode of Talking Trade, Crow Holdings Industrial Vice President Jack Rabenn says a new air cargo facility set to open in Milwaukee will provide an alternative to the delays and congestion importers and exporters currently face in Chicago. Rabenn spoke with Talking Trade host Sandi Siegel about the new supply chain center set to open in the third quarter of next year at Milwaukee International Airport. He said under the current system, freight is trucked between Wisconsin and O’Hare International Airport in Chicago. He said that “doesn’t make sense.” “There's an understanding among the shipping community in Wisconsin of … it does not make sense operationally for stuff to be trucked down in Chicago, then back up to Wisconsin,” Rabenn said. “There's a lot of uncertainty with the congestion of O'Hare. So when their goods fly in, and they might be stuck for days sometimes before they can get back up to Wisconsin, or on the way out, get stuck at the building because of their ground stops, what have you.” He also said using the Milwaukee facility would be about 60% cheaper for importers and exporters than O’Hare. Rabenn said there has been a lot of excitement about the new facility, and he’s working on turning that into action by addressing any perceived risks. He said he understands no one will lose their job sending goods through O’Hare, even if it’s inefficient and costs more. “So we're working to reduce that perceived risk to make sure we get a first mover,” Rabenn said. “Because the first question I always get from a carrier or even a forwarder that doesn't know the area is, ‘Well, who's currently flying in there?’ And that's inherently the wrong question, because there's no facilities for them to fly into, and that's why there's the opportunity.” Rabenn said part of tackling the issue will involve working with state lawmakers to create incentives, such as reducing landing fees or offering fuel tax subsidies, working with freight forwarding groups to demonstrate the benefits, and engaging with shipping companies. “Because ultimately, if enough of them agree, making some type of commitment to a carrier on loads as a whole is a lot less risk than one of them sticking their neck out. So that's where we're at right now,” Rabenn said. Talking Trade is hosted by E.M Wasylik Associates Managing Director Ken Wasylik and M.E. Dey & Co. President and Managing Director Sandi Siegel.
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