Manufacturing was one of the first industries feeling the sting of the tariffs, and the pain hasn’t eased up. Manufacturers reported a slew of issues they faced in April, including skyrocketing material costs, plummeting production rates, and a significant drop in both exports and imports. It’s been a rough ride, to say the least.
Go deeper: The Institute for Supply Management’s Manufacturing Purchasing Managers’ Index (PMI) was at 49% in March, only to dip further to 48.7% in April. Any figure below 50% signals a decline in activity. Not only that, but manufacturing output has fallen to the lowest level it has been since May of 2020. With these grim statistics, layoffs in the manufacturing sector have been on the rise as companies grapple with these challenges.
WY it Matters: Your Wyoming Chamber has been keeping a close eye on the impact of tariffs on the local business community. Together with the U.S. Chamber, we are advocating for tariff policies that better support our local businesses. We’re in this together, and we’re fighting for a brighter future for all industries.
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