Jun 15, 2018
Freedom Partners: New Tariffs Will Harm U.S. Consumers, Businesses
Post by Freedom Partners
Arlington, VA – The latest round of tariffs announced by the Trump administration against Chinese imports will instead hurt U.S. consumers, workers and companies, Freedom Partners said in a statement today.
Freedom Partners Executive Vice President Nathan Nascimento issued the following statement:
“The Trump administration has generally built a strong record on economic growth and job creation by removing regulatory barriers and enacting much-needed tax relief. Today’s economy and job market reflect that.
“However, tariffs undermine that good work by effectively raising taxes and the cost of doing business. These tariffs will disproportionately hurt working families who can least afford it. In addition, they make American companies less competitive as they incur higher costs which they pass along in one form or another. Just ask the Ohio manufacturer that cancelled plans to hire 30-plus workers to build more construction equipment. Moreover, tariffs escalate a vicious cycle in which our trade partners retaliate with more tariffs – further harming American consumers and businesses.
“We encourage the Trump administration to abandon tariffs and instead promote growth and job creation by reducing trade barriers.”
- Individuals, businesses, and countries should be free to engage in the voluntary exchange of goods and services, which improves lives by growing the economy, increasing pay checks, and creating new and better jobs.
- Individuals and businesses in a competitive market, not government bureaucrats or politicians, should guide trade decisions.
- Punitive measures such as tariffs and quotas harm most consumers, workers, and businesses and should be eliminated.
- Subsidies and other forms of government supports for powerful and politically connected businesses and industries do not create value. They punish consumers, insulate businesses from market competition, and should be eliminated.
- Trade disputes should be resolved through existing international trade agreements and organizations.
- While national security interests may be a consideration in trade policy, they should be used to restrict trade only when there is truly a narrow national security interest at stake, not as a work around to impose tariffs.