Minnesota exports down 6% from this time last year
President Donald Trump's on-again, off-again tariffs mean international buyers are purchasing fewer Minnesota products.
First quarter exports are down 6% compared to the first quarter of 2024 — and the quarter ended before Trump's 'Liberation Day' tariff announcement, which raised the effective tax on imports to 27%, before courts intervened and Trump reversed or paused some of the taxes.
Minnesota exports have been hit harder than the country as a whole; nationally, exports were up 3% compared to this time last year.
Trump's tariffs have prompted retaliation from two of Minnesota's biggest trade partners: Canada and China, which imposed taxes on goods purchased from the U.S.
Mexico, Minnesota's second-biggest trade partner, has largely avoided major tariffs and has not retaliated with new import taxes of its own.
Exports from Minnesota to Mexico, however, have dropped 16%, as the country buys fewer Minnesota-produced vehicles, machines, food byproducts, cereals and iron. Exports to Canada, the state's biggest buyer, are down 3%.
'On-again, off-again tariffs issued unilaterally by the Trump Administration continue to cause significant uncertainty and concern for Minnesota companies in planning their business strategies, including importing and exporting,' DEED Commissioner Matt Varilek said in a press release.
The effects of tariffs and economic uncertainty are distributed unevenly across states and industries; in nearby Wisconsin, exports have increased 2% compared to the first quarter of 2024. North Dakota's exports are up 5%, while South Dakota's are down 11%.
In Minnesota, sellers of vehicles, food byproducts and air and spacecraft have suffered the biggest losses in international markets; for those industries, international sales have dropped by around one-quarter.
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