The trade war with China continues to have a negative impact on American businesses, consumers, farmers, and workers. Taxpayers have paid over $80 billion since the start of the trade war in 2018 and over 240,000 jobs have been lost. In addition, the U.S. trade deficit just hit a record high.
As CNN outlined, there is currently a tariff on the majority of the goods being shipped from China into the United States:
“Former President Donald Trump started a controversial trade war with China three years ago, putting tariffs on roughly $350 billion of Chinese-made goods — and despite the change in administration, those duties remain in place.”
President Biden and United States Trade Representative (USTR) Katherine Tai have an opportunity to relieve Americans who have been struggling by lifting the tariffs and ending the trade war.
Rick Miranda, President and CEO of the Brooklyn Hispanic Chamber of Commerce, recently wrote in Crain’s New York Business that the Biden Administration and leadership in the Office of the USTR must work together with Congressional leaders to prioritize repealing tariffs and ending the harmful trade war with China:
“If the Biden administration wants to send a message to the tens of millions of Americans who rely heavily on trade, it should lift the Trump-era tariffs immediately.”
Small businesses that rely on trade are calling for the removal of tariffs as well. Randy Morgan, who owns Outpost Sunsport in Fort Collins, Colorado, wrote in RealClearMarkets:
“For businesses of all sizes, surviving the pandemic is unfortunately not the only hurdle they face. Global supply chains have been backed up for months, and governmental barriers, especially tariffs, continue to inflate the cost of doing business.”
Sally Stutsman, a former member of the Iowa House of Representatives, made a similar point in the Des Moines Register about the importance of providing tariff relief for key industries:
“Iowa and the rest of the nation will be watching closely as the Biden administration shapes its approach to global trade, trusting that the new administration recognizes the burden the trade war with China placed on the country and the people and industries who make our economy work.”
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