Tyler Schipper, an economist and associate professor in the College of Arts and Sciences at the University of St. Thomas, was interviewed for numerous stories on the impact of tariffs announced by President Donald Trump.
From a CNN story:
“Liberation Day” came and went, with President Donald Trump’s sweeping new tariffs battering markets, unsettling the global order, and prompting businesses and households to reconsider their spending. ...
And there are likely more tariffs coming down the pike: A suite of crucial materials was exempt from Wednesday’s tariff actions, including copper, computer chips, lumber, pharmaceuticals and critical minerals. However, Trump administration officials have indicated these products could be subject to tariffs at a later date.
It also remains to be seen whether Canada and Mexico, two of the biggest targets of Trump’s on-again, off-again tariffs, will continue to be largely spared.
“This list does not strike me as a negotiating position right now,” said Tyler Schipper, associate professor of economics at the University of St. Thomas in St. Paul, Minnesota. “Hopefully, some of these come down, but it’s a big list, and it’s across the board.”
From a Minnesota Star Tribune article:
Minnesota companies have taken a beating on Wall Street, days after sweeping new tariffs sent global markets tumbling. ...
Though some were already facing headwinds before the trade war began, anxiety over how the escalating economic conflict might unfold has created uncertainty for Minnesotans and the places they work, shop and invest. ...
In the meantime, companies can either absorb tariff costs or pass them along to consumers, at a time when many are already stretched thin from years of post-COVID inflation. Either way, the result will be lower profits and stock valuations, said Tyler Schipper, associate economics professor at the University of St. Thomas.
“That’s kind of the headwinds that tariffs can cause and why more people are talking about recessions now,” Schipper said. “It’s not just consumers having to do what we have been doing. It’s now also that the firms that were a source of job growth are going to feel those, too, and an already static job market might start seeing more layoffs the longer this goes on.”
From a FOX 9 story:
President Trump has announced plans to raise tariffs on China to 104% – an escalation that poses serious business challenges to Richfield-based Best Buy. ...
Expert opinion: “Best Buy might not be able to pass along all of this to consumers, and so they might reduce some of their margins or some of their profits and that results in lower shareholder values – i.e., their stock goes down – or they might have to lay people off,” said Tyler Schipper, an economist at the University of St. Thomas. “The bottom line is that if you’re going into a Best Buy, and they’ve imported these products after Wednesday, they’re going to be more expensive.”
