Andrew Wronski Describes 'Special Attention' on Manufacturing Sector Following Election
Foley & Lardner LLP partner Andrew Wronski shared insight on the interest the manufacturing sector will receive following the results of the 2024 U.S. presidential election in the American City Business Journals and Manufacturing Dive.
Wronski, who is chair of Foley’s national Manufacturing Sector, told American City Business Journals it is likely manufacturers will draw special attention from the Trump administration, noting an expected combination of incentives and tariffs aimed at further increasing the reshoring of manufacturing capacity in the United States.
Wronski said that businesses in general will likely view the new administration with cautious optimism, underscoring that “caution will come as U.S. business and manufacturers evaluate any countervailing headwinds caused by the Trump administration’s international trade policies with a particular focus on the scope and magnitude of tariffs and reopening of the United States-Mexico-Canada Agreement in 2026.”
In Manufacturing Dive, Wronski touched on three key issues that are top of mind for the industry: taxes, regulation, and energy. Noting that the incoming administration is likely to extend the 2017 Tax Cuts and Jobs Act’s benefits, Wronski said, “Those were good things for manufacturers. The concern was they would go away in a Harris administration. Now they’re going to stay.”
On regulation, Wronski expects a more limited approach to federal oversight across several areas important for manufacturers. “Manufacturers will see all of those as carrots, so to speak, as incentives, to develop in the United States and produce in the United States.”
Wronski added that the new administration’s probable push to boost domestic energy production and cut energy costs will greatly benefit manufacturers.
“If these things are successful, altogether, hopefully you’ll see an increase in nearshoring and reshoring,” he concluded.
Wronski’s commentary in Manufacturing Dive was also shared in Supply Chain Dive and Yahoo! Finance.
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