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(INDIANAPOLIS) – When Indiana manufacturers worry about the effect of President Trump’s trade wars, they’re thinking about more than tariffs.

Where you stand on tariffs depends in part on where you sit — businesses which rely on steel are more likely to worry about tariffs driving up prices. But Indiana Manufacturers Association president Brian Burton says what concerns him is, in his words, having to check Twitter to see what American trade policy is that day. He says when businesses can’t be sure where trade policy will zigzag next, they’re less likely to commit new investment.

Tory Flynn with Hillenbrand says tariffs and trade wars are not synonymous. For companies like Hillenbrand which do business globally, the trade war’s effects on immigration policy and regulatory changes abroad are also considerations.

There’s more enthusiasm about Trump’s tax cut. The I-U Kelley School of Business annual manufacturing survey found the average employer rated the impact of the changes a little under seven on a scale of 1-to-10. Even there, though, some businesses told IU the tax law, billed originally as tax reform, has made their filings more complicated.

The Kelley survey still finds manufacturers bullish about the year ahead, with the average company anticipating an 8{46ff1f14221e6e90aab6104ff16614ca22b12c1f029f774ee196565ca96b3af3} improvement in profits.

(Photo: Eric Berman/WIBC)