U.S. small businesses need help to deal with tariffs, the U.S. Chamber said in a letter to the Trump administration Thursday.
The Chamber is asking for automatic exclusions for any small business importer, and that the administration establish a process for companies to apply for an exclusion if the company can demonstrate the tariffs pose a risk to employment for American workers, as well as exclusions for all products that cannot be produce in America or are not readily available.
“The Chamber supports many of the President’s policy goals, including eliminating unfair trade and non-trade barriers, and driving American investment. At the same time, we have heard from a historic number of small businesses who have made it clear: they need immediate relief from tariffs,” Suzanne Clark, president and CEO of the U.S. Chamber of Commerce. “As each day goes by, small businesses are increasingly endangered by higher costs and interrupted supply chains that will cause irreparable harm. We applaud the administration’s efforts to negotiate as many new trade agreements as possible that expand market access for U.S. companies and benefit American workers, but these deals take time, and many businesses simply can’t afford to wait while negotiations proceed.”
In a letter to Treasury Secretary Scott Bennett and Commerce Secretary Howard Lutnick, the Chamber asked for help from the administration to help prevent escalating consumer prices on products that are not produced in the U.S. President Donald Trump’s tariffs went into effect on May 1. The tariffs range from 10 percent on some countries to 145 percent on goods from China.
“Whether it is coffee, bananas, cocoa, minerals or numerous other products, the reality is certain things just can’t be produced in the United States,” said Clark. “Raising prices on those products will only hurt families struggling to pay their bills. In addition, the administration should protect American workers facing imminent job loss from the impact of tariffs by allowing for exemptions for companies at risk of layoffs.”