President Trump on Monday adjusted tariffs on some aluminum, copper and steel imports.

In a proclamation, the president lowered tariffs on some aluminum and steel derivative products, including agricultural equipment and certain heating, air conditioning and ventilation systems, from 25 percent to 15 percent.

President Trump initially imposed 25 percent tariffs on aluminum and steel derivative products on April 2. In doing so, he cited Section 232 of the Trade Expansion Act of 1962 — which gives the president the authority to impose restrictions on imports under national security grounds.

The president stated Commerce Secretary Howard Lutnick recommended that he reduce those tariffs, citing “recent circumstances” that “have affected and are affecting” domestic industries that use the aforementioned equipment.

“These products also serve an important role in productive domestic economic activity,” the proclamation states. “For example, American farmers use agricultural equipment to produce the food upon which our Nation relies; construction equipment is essential for the continued reindustrialization of our Nation; and material-handling equipment enables industrial logistics and factory operations.”

Under the order, companies from certain foreign countries can qualify for a 10 percent tariff on products “composed” entirely of aluminum or steel that was melted and poured in the U.S.

That provision applies to companies located in Argentina, Ecuador, El Salvador, Guatemala, Japan, Liechtenstein, South Korea, Switzerland, Taiwan, the United Kingdom and the European Union.

As for Canadian and Mexican products “that qualify for preferential tariff treatment” under the U.S.-Mexico-Canada Agreement on trade, 25 percent tariffs will apply “only to the non-U.S. content” of the product.

“For purposes of this clause, ‘non-U.S. content’ means the total value of the product minus the value attributable to parts produced in the United States,” the proclamation reads.

President Trump first implemented Section 232 tariffs on aluminum and steel imports in 2018, during his first term in office.

The U.S. Department of Labor’s Wage and Hour Division today issued four opinion letters designed to promote clarity, consistency, and transparency in the application of federal wage and hour standards under the Fair Labor Standards Act.

The opinion letters provide official written interpretations from the division that address real-world questions from individuals, companies, or organizations. They explain how the FLSA applies to the specific factual circumstances presented and may also have a broader interest to others impacted by the same or similar issues.

“Opinion letters explain how the laws enforced by the division apply in specific situations and circumstances that are faced by employees, employers, and others every day across America,” said Wage and Hour Division Administrator Andrew Rogers. “The letters issued today explicate important and longstanding principles under the Fair Labor Standards Act, including compensable time, exemptions, and bonuses included in the regular rate of pay.”

The following opinion letters were issued today:

• FLSA2026-5: Whether an employee exempt pursuant to paragraph 13(a)(1) of the FLSA can perform additional work in a secondary role at an hourly rate, and, if so, what overtime implications may arise.
• FLSA2026-6: Whether a bonus calculated by comparing an employee’s total straight-time and overtime earnings to the total straight-time and overtime earnings of all employees eligible for the bonus is a “percentage of total earnings” bonus under 29 C.F.R. 778.210 that provides for the simultaneous payment of any overtime compensation due on the bonus, thus satisfying the FLSA’s overtime pay requirement.
• FLSA2026-7: Whether time spent during a meal break voluntarily traversing an employer’s premises and passing through a controlled access entry and exit is compensable under the FLSA when the employer allots employees a 30-minute meal period during which they are allowed to remain on the premises.
• FLSA2026-8: Whether certain pre-shift activities by hospital employees are compensable work and, if so, whether the hospital’s practice of rounding employees’ clock-in time to their scheduled shift start time is permissible.

The number of small businesses in the state expanded rapidly in the post-pandemic period, a new
Wisconsin Policy Forum report finds. The number of establishments in the state with fewer than 500
employees surged 20.2% between 2020 and 2025, far outpacing their growth in the prior decade.

While this increase may signal an entrepreneurial upswing, growth has not been consistent across
business sizes, industries or geographies. The number of micro-businesses with fewer than 10 employees has grown rapidly, but the number of establishments with 100 or more employees has
increased much more slowly.

Wage and payroll growth among Wisconsin small businesses has been strong, particularly in the 2021 to 2023 period of high inflation. This dynamic suggests that the labor market has tightened and
become more expensive for small business owners, which may have pressured their margins.

The retail trade sector has long had the largest number of small business establishments in Wisconsin. While this remained the case as of 2024, retail and wholesale trade have seen the largest declines in total establishments, likely a consequence of the ongoing shift to e-commerce.

In recent years, there has been particularly strong growth in the number of health care and social
assistance small businesses. This sector also has contributed heavily in terms of job creation. From
2010 to 2024, small health care establishments added 38,640 jobs, accounting for roughly two-thirds
of net small business job growth across all sectors.

Meanwhile, the share of Wisconsin small business employees working in manufacturing was 1.78 times higher than the national share in 2024. Our state’s continuing reliance on the manufacturing industry produces exports and jobs with relatively high average wages, but it also creates exposure to sector specific turbulence. Several smaller metro areas in Wisconsin remain heavily reliant on manufacturing, which represents both a strength and a potential risk.

The personal consumption expenditures price index increased a seasonally adjusted 0.4% for the month, putting the 12-month inflation rate at 3.8%, the Commerce Department reported today.

Excluding food and energy, core prices rose 0.2% for the month and 3.3% for the year, against estimates of 0.3% and 3.3%.

While the annual rates were in line with forecasts, the soft monthly readings could provide some hope that the burst in prices over the previous month had begun to ease.

Goods prices jumped 0.7% in April, pushed again by gasoline, which surged 5.5%. Services prices rose 0.3%, which included a 0.6% acceleration in the housing and utilities category and a 0.5% increase in food services and accommodations.

Housing prices broadly increased 0.5%, the biggest monthly gain going back at least until January 2025. Services excluding food, energy and housing rose just 0.2% for the month.

Record-high diesel fuel prices in Wisconsin are starting to come down from their peak in mid-May, but the transportation industry in the state is still feeling the squeeze.

Wisconsin Motor Carriers Association President Dan Johnson told WPR’s “Wisconsin Today” that diesel accounts for roughly 20 percent to 30 percent costs for trucking companies.

“I don’t know that ‘panic’ would be the right word, but they’re definitely concerned about this,” Johnson said. “We’ve been through this before — about five years ago — when diesel prices spiked near to where they are today, so it’s not our first time through this. But we would definitely like to see some relief sooner rather than later.”

According to GasBuddy petroleum analyst Patrick De Haan, the average diesel price in Wisconsin peaked at $5.88 a gallon on May 13. After Memorial Day, it came down to an average of $5.68 as the oil market projected optimism for U.S. negotiations with Iran.

Diesel prices in the state were below $5 a gallon last month and below $3.50 a year ago, according to AAA fuel price data.

Johnson said larger trucking companies are better able to withstand these higher prices than smaller firms because they can negotiate fuel purchasing programs and other fixed costs.

“If you have three or maybe five trucks, you may not be considered in that same universe for a fleet that could benefit from a fuel surcharge or some sort of negotiated contract,” Johnson said. “So an owner-operator with one truck, he or she is probably going to be paying close to retail price for diesel.”

Last Friday, Governor Tony Evers announced he has formally requested a disaster declaration from President Donald J. Trump in response to severe storms and flooding in April that caused widespread destruction throughout the state of Wisconsin.

The governor’s request comes as, in April, he announced his request for FEMA to assist the state in conducting joint preliminary damage assessments. After assessments of more than 1,570 residential properties, Wisconsin Emergency Management (WEM) and FEMA determined that the total damage costs of those properties were estimated at more than $9.8 million. The joint preliminary damage assessment for Public Assistance found more than $17.6 million in public sector damage.

This request includes the following counties for FEMA’s Individual Assistance program: Bayfield, Brown, Buffalo, Jackson, Jefferson, Juneau, Kenosha, Manitowoc, Marathon, Milwaukee, Outagamie, Racine, Rock, Sauk, Vernon, Washington, Waukesha, Waupaca, and Winnebago counties. The Oneida Nation is also included in this request.

The following counties were requested to receive eligible funding through FEMA’s Public Assistance program: Bayfield, Iowa, Jackson, Jefferson, Juneau, Kewanee, Manitowoc, Marathon, Outagamie, Racine, Rock, Sauk, Vernon, and Waupaca counties. The Oneida Nation is included in this request as well.

The joint preliminary damage assessments did not need to review damage at every home in the affected counties. These assessments provided a snapshot of the damage caused by the storm. It is important to note that FEMA does not rely on fixed monetary or numerical thresholds as the sole determining factor for recommending a disaster declaration. Instead, the agency evaluates a wide range of factors to assess the severity and magnitude of the event and its impact on the affected communities. The ultimate decision to approve or deny the request will rest with the president. There is no strict legal timeline for a response to a state’s request for federal assistance.

Wisconsin’s labor market has slowed down over the last year, though unemployment has remained near historic lows, according to preliminary data released Thursday by the state Department of Workforce Development.

“The Wisconsin labor market has cooled a bit, along with the national economy,” said Scott Hodek, an economist for the Wisconsin Department of Workforce Development. “Unemployment rates do remain historically low, though it has been slowly trending upwards.”

The state’s unemployment rate was 3.5 percent in April, unchanged from the previous month. Wisconsin also continues to outperform the nation when it comes to both the unemployment rate and labor force participation.

But state data shows Wisconsin had 10,700 more unemployed people in April 2026 than in the same month of 2025.

Wisconsin added around 9,000 non-farm jobs over the month, but it wasn’t enough to offset losses over the past year, according to the report. The state lost about 12,800 non-farm jobs from April 2025 to April 2026, state data shows.

Between April 2025 and April 2026, Wisconsin lost 7,800 manufacturing jobs, while gaining 6,500 construction jobs, according to the report.

Hodek said the construction industry did experience a bit of a “blip” in April, losing 400 jobs compared to March.

“That may be interrupting a longer term trend, but I’d hesitate to do anything other than say it’s something to keep an eye on,” he said. “We’ve only seen a couple data points there, and I haven’t seen a lot of other indications so far that the construction trend is slowing as a bright spot for Wisconsin.”

Even though there are signs that the labor market is cooling, Hodek also said the state’s aging population continues contributing to a “worker quantity challenge.”

“Despite everything else that’s going on, the underlying labor challenge still remains demographic as the baby boomers age out of the labor force,” he said.

Hodek also said it’s difficult to know exactly which industries are being most affected by an aging workforce.

Existing home sales in Wisconsin rose for the second straight month in April, with both prices and sales climbing compared to last year, according to the Wisconsin REALTORS Association.

Sales in April were up 7.4% from April 2025, while the median price climbed to $340,000, a 6.3% increase over the past year. Over the last five years, the median price has increased by about 45%.

Affordability dropped 1.6% since April 2025. Statewide inventory remains tight, with just 3.7 months of supply, well below the level for a balanced market.

Wisconsin Realtors Association President Tom Larson said inventory would need to rise by nearly 62% to reach a balanced market. “For potential sellers, this is an excellent time to list as we move into the all-important peak summer market,” Larson said.

The full report can be found here.

Gov. Tony Evers, together with the Public Service Commission of Wisconsin (PSC), announced $60 million to expand access to high-speed internet in unserved communities through the State Broadband Expansion Grant Program. The grant funding is available to organizations, telecommunications utilities, or a city, village, town, or county partnering with a telecommunications provider, for the purpose of providing internet connectivity to more homes and businesses in Wisconsin.

This grant round is intended to close gaps by reaching locations not served by the federally funded Broadband, Equity, Access and Deployment (BEAD) Program, as well as providing improved broadband service to certain locations in the state. The PSC is now accepting applications for broadband construction projects in unserved areas of the state, specifically targeting locations that lack speeds of 100/20 Mbps. Additional information about the State Broadband Expansion Grant Program grant eligibility can be found on the PSC website.

The Wisconsin Broadband Office estimates that after removing locations set to receive improved fiber and fixed wireless service through BEAD or other programs, at least 30,000 locations in Wisconsin would remain unserved. These remaining locations require connectivity funding and stand to benefit from State Broadband Expansion Grant Program funds.

This announcement comes as, in December 2025, the federal government approved Wisconsin’s final BEAD Program proposal, which unlocked over $1 billion in federal investments secured under the Bipartisan Infrastructure Law signed by President Joe Biden. Today, the PSC is currently administering the federally funded BEAD Program, with construction expected to begin Summer 2026.

Ambassador Jamieson Greer will host the G20 Trade Ministerial in Milwaukee, Wisconsin from Wednesday, September 30 to Thursday, October 1.

At the G20 Trade Ministerial this fall, USTR will lead discussions with the G20 Trade Ministers on a wide array of issues, including ending forced labor, updating the Most-Favored Nation (MFN) Principle, denouncing weaponization of trade in food, and addressing structural excess capacity and production. The Trump Administration looks forward to working with our G20 partners to establish a global trading order based on fair, reciprocal, and balanced trade.