Talking Trade

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Talking Trade is a podcast produced by WisBusiness.com and hosted by Ken Wasylik, managing director, E.M Wasylik Associates, and Sandi Siegel, president and managing director, M.E. Dey & Co. The show features interviews with experts on trade policy, supply chains, economic trends and much more. 

  1. Sep 29

    Talking Trade Ep. 122 - Rachel Ziemba, Ziemba Insights

    In the latest episode of “Talking Trade,” Rachel Ziemba of Ziemba Insights says a recent state meeting between President Donald Trump and China’s President Xi Jinping “may not give as much certainty to business” as the leaders may hope.  Ziemba is an adjunct fellow at the Center for a New American Security in D.C. and a senior advisor at New York-based Horizon Engage.  She explains the diplomatic visit by the Chinese leader was meant to mirror “the pomp and circumstance and ceremony” that greeted Trump during his earlier visit to China. While the gathering and state dinner involved both diplomats and U.S. business leaders, Ziemba says “it’s not clear that there was a lot of new substance” to any discussions taking place during the meeting.  “This is sort of, if anything, showing a level of respect … the fact that the two leaders are comfortable with each other, but at the end of the day we’re sort of operating on almost a month-to-month kind of extension of the trade rules,” she said.  While the talks involve trade and purchases between two countries, Taiwan, the conflict in the Middle East and de-escalating tensions there to enable more oil flowing out of the region, the Russia-Ukraine war and more, Ziemba said many details of the discussions are not yet clear.  “The devil really is in those details, because that’s what really drives the friction, the compliance that all businesses are having to grapple with right now as the U.S. and China both engage in more export controls and import bans and a whole alphabet soup of new restrictions,” Ziemba said.  Meanwhile, the conversation explores potential avenues for the future U.S.-China trade relationship, including tariff exemptions on various products.  Ziemba also weighs in on shifting trade deficits, rising employment costs in China and the role of U.S. tariffs, emerging trade relationships with other nations and the rise of AI.  Talking Trade is hosted by E.M Wasylik Associates Managing Director Ken Wasylik and M.E. Dey & Co. CEO Sandi Siegel and sponsored by the Dairy Farmers of Wisconsin, Carroll University and Michael Best Strategies.

  2. Sep 14

    Talking Trade Ep. 121 - Brian Dranzik, Milwaukee Mitchell Intl. Airport, and Jack Rabenn, Crow Holdings

    In the latest episode of “Talking Trade,” partners in the new $80 million cargo terminal at Milwaukee Mitchell International Airport say the project will bring more airborne economic activity to Wisconsin.  The podcast features an interview with Brian Dranzik, the airport’s director, and Jack Rabenn, managing director of the industrial group for Crow Holdings Development.  Adding the new cargo terminal has been more than five years in the making, Rabenn says, noting it will bring “an amenity to the state that it’s never had before.” The 330,000-square-foot facility includes a new taxiway and space for multiple large aircraft.  “Ideally we’d be taking some [traffic] from O’Hare, but we’re really a complement to it more than anything,” Rabenn said. “There’s plenty to go around in the Midwest … there’s a lot of demand that originates or ends up in southeast Wisconsin or broader Wisconsin.”  Much of the air cargo that moves through the region currently passes through Chicago O’Hare International Airport, Rabenn said.  “It’s just not efficient, there’s a lot of leakage for the state. So that’s the initial goal here, is to provide that service and amenity to the supply chains,” he said, referring to the area’s manufacturing sector.  Construction on the facility’s building frame and land are currently wrapping up construction, while Crow Holdings is continuing work on a 400,000-gallon fuel system. The company is targeting November to finish much of the project.  Dranzik says the new terminal will help address current fueling limitations, noting “it’s a scramble” to get diverted flights refueled on time without the new capacity.  “This facility allows us to handle that, and it provides kind of a variety of potential revenue opportunities for the operator as well,” Dranzik said, adding “the ability to retain that traffic, either coming from the state or the local area here, and provide jobs and provide the growth, it’s just going to be a wonderful benefit for us.”  Talking Trade is hosted by E.M Wasylik Associates Managing Director Ken Wasylik and M.E. Dey & Co. CEO Sandi Siegel and sponsored by the Dairy Farmers of Wisconsin, Carroll University and Michael Best Strategies.

  3. Sep 14

    Talking Trade Ep. 120 - Dean Haen, Port of Green Bay

    In the latest episode of “Talking Trade,” Port of Green Bay Director Dean Haen says shipping totals through the northeastern Wisconsin port are ahead of last year, despite the “complete disruption” of commerce in the spring.  Heavy snowfall in March as well as “epic rains” across the region led to flooding in the region, also resulting in high-velocity water flow downstream and disrupting shipping in the bay.  “Ship captains could not, you know, push those vessels safely up the river,” Haen said. “So we were closed for 30 plus days, which had never happened … in the records that I found in the history of the Port of Green Bay.”  While the port lost out on more than a month of shipping activity, taking a financial toll on the operators that use the port, the picture has brightened in the months since.  “We have rebounded and are up overall compared to last year, even though we lost that chunk of time,” Haen said.  Along with discussing how the port’s resident businesses grappled with the challenges posed by the temporary shutdown — including diverting products elsewhere at great expense — Haen shares details on how coming activity is shaping imports to the region.  “There’s lots of construction in the region, so driving raw materials for asphalt and cement, and then the ag products, limestone and others that are moving,” he said. “It’s looking good, and hopefully it holds true and we have a good year come December.”  Haen also touches on the port’s new terminal site, which is currently seeking a tenant for the 14.5-acre location. Construction on the $60 million project is underway and the site will be available next year.  Talking Trade is hosted by E.M Wasylik Associates Managing Director Ken Wasylik and M.E. Dey & Co. CEO Sandi Siegel and sponsored by the Dairy Farmers of Wisconsin, Carroll University and Michael Best Strategies.

  4. Sep 14

    Talking Trade Ep. 119 - Doug Rebout, Wisconsin Soybean Association

    In the latest episode of “Talking Trade,” Doug Rebout of the Wisconsin Soybean Association discusses the impact of tariffs and the Iran war on U.S. soybean farmers.  Rebout, who’s also chair of the DATCP board and partner of Roger Rebout & Sons Farms in Janesville, notes corn and soybean farmers in the area can’t easily adjust what their operations produce based on short-term trends.  “We know we’re going to have our good years, we know we’re going to have our bad years,” he said. “With farming, you can’t make major changes year to year on what we’re doing with crops.”  With China not purchasing as much of the U.S. soybean crop amid trade tensions, the industry is looking elsewhere for potential export markets, Rebout said.  “One of the things that’s really helped with that is the DeLong port in Milwaukee, having that, you know, here in Wisconsin has been huge for Wisconsin ag products,” he said, adding “it opens up another market taking it out the St. Lawrence Seaway, and kind of opens up that northern Africa, European, Ireland market a little bit for us.”  He argues “we need to look at more markets” rather than being so reliant on just one for the stability of the ag sector.  “And also more emphasis on just trying to find more domestic uses here in the U.S. so we’re not so reliant on trade,” he said.  Meanwhile, disruption of trade through the Strait of Hormuz is affecting the supply of fertilizer and other inputs for corn farming. While most farmers had already acquired what they needed for this year’s crop, the outlook for next year is more clouded, Rebout said.  “It’s going to be next year’s crop where we’re really going to be impacted, and even if the Strait opened up right now, the war stopped right now, it’s going to take six to seven months … to get it caught up,” he said.  Talking Trade is hosted by E.M Wasylik Associates Managing Director Ken Wasylik and M.E. Dey & Co. President and Managing Director Sandi Siegel and sponsored by the Dairy Farmers of Wisconsin, Carroll University and Michael Best Strategies.

  5. Sep 14

    Talking Trade Ep. 118 - Sandi Siegel, M.E. Dey & Co.

    In the latest episode of “Talking Trade,” M.E. Dey & Co. CEO Sandi Siegel says the process for refunding tariffs has been “a little messy” but continues apace with more than half of the $166 billion total already returned to importers.  Siegel discusses the latest developments with refunding tariffs that were found to be unlawfully collected under the International Emergency Economic Powers Act by the Trump administration. After the Court of International Trade last year found the tariffs to be unlawful, the U.S. Supreme Court earlier this year ruled the president didn’t have the authority to enact tariffs under IEPA. Since then, the international court has ordered U.S. Customs and Border Protection to begin refunding the tariffs, and the federal agency in April rolled out the Consolidated Administration & Processing of Entries or CAPE program to facilitate this process.  It’s now being used to process information for imported goods and the tariff duties that were paid in order to process refunds, Siegel explains.  “Customs acted pretty quickly, to their credit,” she said, adding the CAPE system has been “fairly straightforward, simpler than you might imagine when the government’s involved.”  Still, elements of this process are complicated by existing regulations governing Customs, according to Siegel.  “It gets a little messy, I’ll just say, from a regulatory side because Customs, under the normal regulation, can only refund slightly more than a year period, depending on the status of the entry,” she said.  While the refund process has proceeded through Phases 1 and 2 with initial tranches of covered imports, Customs has been gearing up to begin Phase 3, opening up the process to more imported goods.  So far, this process has reportedly yielded about $86 billion in refunds to companies, leaving about $80 billion yet to be returned. Siegel notes about 10,000 refunds haven’t been issued as authorities are still waiting on bank information for transfers.  And while many importers are “scrambling” to comply with the refund process, others are choosing not to file for refunds at all, Siegel said.  “There are some concern in their minds of whether or not it’s going to put them under the radar for Customs or have their entries highly scrutinized by Customs, which has been something that Customs has been very transparent about,” she said. “‘We are going to be looking for the accuracy of how you filed the entry before we start giving you money back,’ right?”  This interview was recorded before the Trump administration’s latest round of tariffs.  Talking Trade is hosted by E.M Wasylik Associates Managing Director Ken Wasylik and M.E. Dey & Co. President and Managing Director Sandi Siegel and sponsored by the Dairy Farmers of Wisconsin, Carroll University and Michael Best Strategies.

  6. Sep 14

    Talking Trade Ep. 117 - Brett Ewer, Michael Best Strategies

    The latest episode of “Talking Trade” features a discussion on tariff developments with Brett Ewer, a principal with Michael Best Strategies.  Ewer says the earlier International Emergency Economic Powers Act tariffs enacted by the administration and later struck down by the U.S. Supreme Court were seen as “arbitrary.” By contrast, the Section 301 tariffs are more expansive and seem to be on firmer legal footing, as they hinge on related investigations of the countries being targeted.  When asked about related lobbying in Washington, D.C., where he’s based, Ewer described a “feeding frenzy” as interest groups seek to make their case.  “We’re in the piranha pool right now,” he said. “Everyone is trying to get a bite.”  He noted manufacturers and others with distributed supply chains have a major stake in this process, while the agriculture industry is seeking to maintain stability in commodity markets and ensure what they’re selling remains both affordable and profitable.  “Farms need to be able to exist as a going concern, so they’re going to be focused on things like dairy, avocados … beef, cattle ranchers are a huge presence in D.C.,” Ewer said.  The discussion also explores the future of the United States-Mexico-Canada Agreement and expectations for future trade deals forged between the participating nations.  Talking Trade is hosted by E.M Wasylik Associates Managing Director Ken Wasylik and M.E. Dey & Co. President and Managing Director Sandi Siegel and sponsored by the Dairy Farmers of Wisconsin, Carroll University and Michael Best Strategies.

  7. Jun 16

    Talking Trade Ep. 116 - Alex Wolf, JP Morgan Private Bank

    In the latest episode of “Talking Trade,” Alex Wolf of JP Morgan Private Bank says global supply chains are adapting to persistent shocks.  Wolf, the bank’s global head of macro and fixed income strategies, discusses the ripple effects of shifting trade policies and armed conflicts. He notes the new normal for international trade is characterized by frequent “shocks,” pointing to U.S. tariff changes, Russia’s invasion of Ukraine and the war in Iran.  “We’ve seen more stress on global supply chains than we have in a very long time,” Wolf said. “So on the negative side, you almost have a persistent state of uncertainty and … you could even say trade policy almost looks like, the goal of it is to be uncertain and opaque and keep companies guessing.”  But at the same time, “global trade has held up” better than initially expected through this period of uncertainty, according to Wolf.  “If you go back to April last year, and you had a lot of projections and forecasts showing a cratering in global trade, certainly that hasn’t come true,” he said. “We’re seeing still pretty robust demand, so companies have been able to adapt, supply chains have been able to adapt.”  Wolf also shares insights on tariff-related cost increases being absorbed by the economy and how that’s changed over time, as well as how price increases differ between goods and service sectors.  The discussion also explores the shifting U.S. trade relationship with China, as the United States’ trade deficit with the rival nation has declined due to lower imports from China. Still, China’s trade surplus has “continued to balloon,” reaching $1.2 trillion for 2025.  “They’re sending less to the U.S., because the U.S. is buying less, but they’re flooding the rest of the world with goods,” he said. “So they’re finding other markets … that is increasing pressure on the rest of the world that’s seeing a flood of cheap Chinese goods.”  Talking Trade is hosted by E.M Wasylik Associates Managing Director Ken Wasylik and M.E. Dey & Co. President and Managing Director Sandi Siegel and sponsored by the Dairy Farmers of Wisconsin, Carroll University and Michael Best Strategies.

  8. Apr 28

    Talking Trade Ep. 115 - Jason Turner, Great Lakes Advisors

    In the latest episode of “Talking Trade,” Great Lakes Advisors Chief Investment Strategist Jason Turner says trade disruptions in the Middle East are creating opportunities for exporters elsewhere.  Turner notes the conflict with Iran has largely impacted commodities being transported through the Strait of Hormuz out of the region, but other markets are adapting to meet global demand.  “Those minerals, those goods that are coming from the gulf … they are produced other places,” he said. “And you’ve got countries in Europe, countries in the far east that had been large trading partners of some of those Middle Eastern nations … looking to other places, looking to the United States, looking to Australia, looking to other areas in South America, for example.”  And while commodities coming out through the strait are facing blockades, finished goods that would normally enter the region through the key shipping lane are also being disrupted, Turner explained.  The discussion explores how exporters can navigate the current landscape, including strategies such as contingency planning and running potential scenarios.  “I definitely think flexibility is key … What happens if tariffs were to go up, and have a 25% tariff slapped on anything going between us here?” he said. “Where can I pivot, where can I obtain inputs from, where can I export to?”  He also said it’s “a great time to be thinking about developing new markets” as an exporter, arguing those that are more entrenched will take a larger hit from the conflict.  “There’s those that are also going to take advantage, and become the new supplier for something. Those doors are starting to open up,” Turner said. “The longer the current conflict persists, and the higher the degree of uncertainty around tariffs, the more those other nations are going to look for new markets and new providers.”  Meanwhile, Turner weighs in on stock market trends amid the uncertain environment, corporate income growth, the path ahead for tariff refunds and more.  Talking Trade is hosted by E.M Wasylik Associates Managing Director Ken Wasylik and M.E. Dey & Co. CEO Sandi Siegel.  The show is sponsored by the Dairy Farmers of Wisconsin, Michael Best Strategies and Carroll University.

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About

Talking Trade is a podcast produced by WisBusiness.com and hosted by Ken Wasylik, managing director, E.M Wasylik Associates, and Sandi Siegel, president and managing director, M.E. Dey & Co. The show features interviews with experts on trade policy, supply chains, economic trends and much more. 

Information

  • Creator
    WisBusiness.com
  • Years Active
    2022 - 2026
  • Episodes
    122
  • Rating
    Clean
  • Copyright
    © 2026 Talking Trade
  • Show Website
    Talking Trade