“What happened?
The December forecast data included roughly $800 million in new revenue for the state over the next two years, though nearly all of that came in the first year. Now even that marginal growth is gone. Much of the loss can be attributed to economic uncertainty, including worries about the impact of tariffs in the country’s most manufacturing-intensive state.
…According to an analysis from Axios Indianapolis, Indiana is the third-most reliant state when it comes to China, which imported $6.1 billion in Hoosier goods in 2023. More than half of that was in pharmaceuticals and medicines followed by oilseeds and grains.”

What a difference six months makes.