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The U.S. Chamber of Commerce’s first effort on trade in 2019 is to tank legislation that would allow President Donald Trump to impose reciprocal tariffs on specific foreign imports, Breitbart News has learned.
Rep. Sean Duffy (R-WI) is expected to introduce legislation this month, the United States Reciprocal Trade Act, which will give Trump the power to raise tariffs on specific foreign products if those countries’ tariffs are much higher on the same U.S. product.
Worker - Duffy - Legislation
“This is about the American worker,” Duffy has said about the legislation.
A letter obtained by Breitbart News reveals that the Chamber of Commerce — which favors the U.S. job-killing globalist free trade policies of NAFTA, TPP, and KORUS — is already attempting to tank the reciprocal tariff legislation before it is even introduced.
Letter - Republican - Democrat - Congress - Members
In a letter to Republican and Democrat Congress members, Chamber of Commerce Chief Policy Officer Neil Bradley claims imposing reciprocal tariffs on foreign imports “would undermine U.S. economic growth and job creation.”
The full letter can be read here:
Bill - President - Authority - US - Tariffs
“The bill would effectively give the President unilateral authority to increase U.S. tariffs on imports from any foreign country,” Bradley writes. “The harm to Americans would be immediate: Tariffs are taxes, and they are paid by American families and American businesses.”
Free trade enthusiasts often claim that imposing tariffs on foreign imports are taxes on American citizens. Data collected on Trump’s most recent tariffs on Chinese imports, foreign steel, and aluminum have proven this is not the case.
Research - EconPol - Europe - Majority - Percent
Research by EconPol Europe reveals that the vast majority, 20.5 percent of the 25 percent tariff, is being paid by China while only 4.5 percent is being paid by the U.S. Tariffs primarily eat into the wide profit margins of multinational corporations, not into the pockets of American consumers.
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