The trade war with China has caused American business owners to struggle since 2018. Data from Tariffs Hurt the Heartland shows that the trade war has cost U.S. businesses, workers, and manufacturers over $94 billion.
Unfortunately, while the trade war continues to devastate the economy, United States Trade Representative (USTR) Katherine Tai announced that the Biden administration will keep the previous administration’s failed tariff policy in place. Americans for Free Trade stands with American businesses and expressed disappointment in this news:
“Leaving the tariffs in place will only continue the harm they’ve done to the American economy. President Joe Biden and Ambassador Tai should prioritize ending the trade war, rather than building on existing tariffs.”
Small business owners agree that it’s time to lift the tariffs. Ann Brunett of The Mitchell Group recently wrote that businesses like hers are doomed so long as harmful practices like the trade war are left untouched.
“If the tariffs are left in place, small-business owners like me will be burdened with the taxes that tariffs add to the products we need to satisfy our customers. Combined with the ballooning shipping crisis, a lot of businesses won’t be able to cope.”
Joe Bell of Aqua Filter Fresh in Pittsburgh, Pennsylvania echoed this sentiment and noted that ending the trade war is essential in order for our country’s economy to thrive.
“Unless President Joe Biden and United States Trade Representative Katherine Tai move to repeal those tariffs, there will be a large number of businesses and workers who won’t fully enjoy the fruits of the economic recovery.”
Business experts concur. “The path forward is clear: Biden and Tai cannot allow the Trump administration’s unacceptable and misguided trade policies to continue,” wrote Dewey Beach Commissioner Paul Bauer.
The time is now to end tariffs and help American businesses recover.