Omaha, Nebraska (RI) — A survey of manufacturing supply managers in Iowa and eight other Midwestern states finds the tariffs enacted by President Trump last year are causing wide-reaching financial troubles for many American companies.
Creighton University economist Ernie Goss says even though the nation’s highest court struck down the president’s tariffs in late February, the damage is already done.
Goss says Trump’s response will only continue making things worse.
The president initially enacted the tariffs on dozens of countries, saying they would help to level the playing field for U.S. companies to compete, but Goss says it’s clear the move had the opposite effect.
Goss says the monthly survey showed a sharp upturn in new February orders, which pushed the overall economic index for Iowa and for the region into solid growth territory, though he says difficulties persist.
The report says Iowa exported $13.6 billion of manufactured goods for all of last year, compared to $15 billion for 2024, a decline of 9.3 percent. Likewise, Iowa’s importation of manufactured goods fell from $11.6 billion in 2024 to $10.9 billion last year, a 5.8 percent decline.
The report says Iowa exported $15 billion in manufactured goods in 2024, down to $13.6 billion last year, a 9.3% decline. Imports fell as well, dropping from $11.6 billion in 2024 to $10.9 billion last year, a 5.8% decrease.
KIWA Staff Photo
