Apr 04, 2018

Tariffs a Dead End Road for American Manufacturers, Workers and Consumers

Post by Freedom Partners

Arlington, VA – In retaliation against tariffs on Chinese goods proposed by the Trump administration, China’s State Council this morning announced tariffs of their own on a range of U.S. goods, including duties on soybeans and commercial passenger planes. The administration’s protectionist policies have been widely opposed by leading economists, academics and policy experts due to the negative economic impact on consumers, workers and businesses, and their disproportionate harm to low-and-middle income Americans.

Freedom Partners Executive Vice President Nathan Nascimento issued the following statement:

“Robust and open trade with other nations is a hallmark of a vibrant economy and we know the opposite is true of protectionist tactics that particularly harm those who can least afford it. This latest round of tariffs, combined with China’s swift and predictable reaction, has taken our country further down a dead end road for American manufacturers and consumers. We urge the Trump Administration to reconsider these short-sighted policies before they escalate with further tit for tat, harmful measures. Instead, let’s work together to build on the success of tax reform and unlock new and better opportunities for more Americans.”

Freedom Partners has a long track record of opposing higher taxes on any imports because they ultimately hurt the people they are supposed to help – punishing consumers with higher costs, destroying jobs and undermining the economy. Last month, Freedom Partners emphasized that many of the arguments made by the Trump administration in support of tariffs, particularly those on steel and aluminum, are similar to arguments made by the Bush administration in 2002 for the failed tariffs it imposed to support the American steel industry, but ultimately led to fewer jobs and higher prices.