Americans for Free Trade, a coalition of business organizations from every sector of the U.S. economy, issued the following statement today after President Trump blamed Americans companies hurt by his trade war. The tweet from the President came one day after Americans for Free Trade sent a letter signed by over 160 of America’s leading business associations calling on him to postpone upcoming tariff increases.
“Tariffs are taxes that cost American jobs and hurt consumers, creating a problem for the entire U.S. economy. The fact that companies find extra taxes as high as 30 percent challenging is not an excuse, it’s an economic reality. Unfortunately, small businesses on Main Street are the ones that are really suffering – many have slowed hiring or laid off employees and some will even be forced to close their doors. At the same time, farmers across the country are losing income every day as this trade war threatens their entire livelihoods.”