Global Trade Tensions Play Out in Wisconsin
Wendy Cutler on CNBC
As President Trump visited Wisconsin on June 28 to spotlight a new factory by Taiwanese electronics manufacturer Foxconn, ASPI Vice President Wendy Cutler spoke with CNBC’s Squawk Alley to discuss the complexities of the trade issues currently playing out.
Cutler points out that construction of the new factory broke ground amid a backdrop of potentially damaging tariffs on key Wisconsin exports, illustrating the complicated nature of trade. While foreign investments like the factory will benefit the state through new manufacturing jobs, there are also “many workers, farmers, and companies [that are] very concerned” about both the higher prices for steel from the administration’s tariffs and for the prospect of retaliatory tariffs, particularly in agriculture, by countries like China, the EU, Mexico and Canada.
Speaking on the prospect of a U.S.-China deal to avert further tariffs, Cutler said Chinese officials are “very confused” about what the U.S. wants because “our positions seem to change week by week.” Still, Cutler believes that China wants “to get back to the table.” How this will play out with other trading partners “remains to be seen;” however, with countries threatening to retaliate if the U.S. goes ahead with its planned tariffs. (2 min., 28 sec.)