Month: June 2022

New Data Shows Trade War With China Has Cost Americans $129 Billion

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WASHINGTON, D.C., (June 29, 2022) — New data released by Americans for Free Trade, a broad coalition united in the fight against tariffs, reveals the steep price United States businesses, consumers, workers, and manufacturers have paid as part of the ongoing trade war with China. 

Americans have paid an estimated $129 billion in Section 301 tariffs between July 2018 and April 2022, and there is no sign that Section 301 tariffs are slowing. In fact, the last nine months (August 2021 – April 2022) have proven to be the most expensive yet.

“Between the COVID-19 pandemic and rising costs from inflation, the last thing that American businesses and consumers should have to worry about are tariffs. Enough is enough,” said Americans for Free Trade spokesperson Jonathan Gold. “It’s been over four years since the trade war began, and people across the country are only continuing to suffer. If the Biden administration is serious about promoting worker-centric policies, it will move swiftly to remove the harmful tariffs and help U.S. companies recover.”

The data also showed that:

  • The average monthly Section 301 tariffs paid under President Biden ($3.8 billion) are 67% higher than average monthly 301 tariffs paid under President Trump ($2.3 billion).
  • About 55% of Section 301 tariffs were paid under President Trump ($71 billion) versus 45% under President Biden ($57 billion).
  • Companies were able to avoid $21 billion in payments to the government up until the Section 301 tariffs exclusions were mostly ended on December 31, 2020.

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ICYMI – Business Leaders Discuss Tariffs’ Continued Damage

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WASHINGTON, D.C., (June 22, 2022) — In case you missed it, Americans for Free Trade recently hosted a “Tariff Talk” roundtable with business leaders across various industries. Participants included:

  • Chris DiTullio, Executive Vice President, Chief Customer Officer, JOANN – Hudson, OH
  • Sherrill Mosee, Inventor and Designer of MinkeeBlue – Philadelphia, PA
  • Joe Shamie, Co-President of Delta Children’s Products – New York, NY
  • Rob Cohen, VP, Display Supply & Lighting, Inc. – Boston, MA
  • Joe Bell, Vice President of Sales & Marketing, Aqua Filter Fresh, Inc. – Pittsburgh, PA
  • Deena Ghazarian, Founder/CEO, Austere – Wilsonville, OR
  • Anne Leventry, President, PanAmerican Seed Company – Chicago, IL


Kicking off the event, speakers took the time to note what tariffs really are: taxes on American businesses, consumers, and workers.

“The tariffs are really a tax on small businesses like ours.” – Rob Cohen

“This 25 percent tariff that you have put on, basically parents, is a tax on those individuals that have so many other expenses when a new child comes into their life. Why would you put 25 percent additional cost on [parents] developing safe places for their children to sleep, for their children to play, and for their children to enjoy?” – Joe Shamie

Throughout the event, participants also highlighted how the trade war with China has personally affected their companies:

“Small businesses like mine have taken a hit from tariffs, a global pandemic, rising logistics costs and increased employment costs. The Administration and Congress should take steps to provide tariff relief so small businesses can endure these challenges and thrive.” – Deena Ghazarian

“We would like to stay American-based, but these kinds of policies are very problematic for us.” – Anne Leventry

“I have raised my prices a little bit, but it really does not cover all of the additional costs with the tariffs.” – Sherrill Mosee

Inflation concerns were top-of-mind:

“Our customers, the American people, are in great need of inflation relief, and rescinding these tariffs can help achieve that goal.” – Chris DiTullio

“How many more blows can small businesses afford to take? A rescission of these tariffs can help us all feel relief from the inflationary market we are living in.” – Rob Cohen

“The tariffs are adding costs to an already inflationary market … As I stated we’re a small company and this has caused us to raise our cost to our customers.” – Joe Bell

Business leaders concluded that it’s time for the Biden administration to finally take action and address the trade war with China:

“I believe one of the most important actions the administration can take to help real Americans with inflation is to rescind the Trump-era Section 301 tariffs.” – Chris DiTullio

“I’m asking that the president really look into this, especially for a small business as myself to lower those taxes.” – Sherrill Mosee

If you are interested in speaking with someone about the trade war and its negative impact on Americans, please contact press@americansforfreetrade.com.
 

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