Trade Group Decries Trump’s Tariff Tweets

Tariffs Hurt the Heartland, the national campaign comprised of over 150 of America’s largest trade organizations from across retail, tech, manufacturing and agriculture, today released the following statement on the President’s tweet announcement that tariffs on $200 billion of goods will increase from 10 to 25 percent on Friday.

“For 10 months, Americans have been paying the full cost of the trade war, not China. To be clear, tariffs are taxes that Americans pay, and this sudden increase with little notice will only punish U.S farmers, businesses and consumers.

“Doubling down on taxing Americans as a negotiating tactic only makes a bad situation worse. Taxing Americans when they buy furniture, tools, electronics and groceries should have nothing to do with reaching this agreement. This isn’t leverage to get a better deal, it’s taking money out of the pockets of hard-working Americans.

“If the President follows through on this threat, the consequences will be dire. Raising tariffs to 25 percent could cost nearly one million American jobs, according to recent estimates. This decision will also roil financial markets and increase the likelihood of retaliation on American farmers who are facing the lowest income levels in years.

“Republicans and Democrats in Congress need to step up to meet this threat head on. Job-killing tax hikes on their own constituents should be a non-starter, and in the days ahead, lawmakers must act to protect Americans from this threat.”

BACKGROUND

Impacts of raising tariffs to 25 percent and what Americans have paid in tariffs to date:


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