Forbes President Steve Forbes analyzed that President Donald Trump meant ‘The Bottom Line’ for American businesses for a mutual tariff announcement.
US Chamber of Commerce warns Trump administration in a new letter Small business Automatic exclusion is required from tariffs that can reduce their ability to survive.
The Chamber on Thursday wrote to Treasury Secretary Scott Besant, Commerce Secretary Howard Lutynik and American Trade Representative Jaimison Greer to express their concerns about the ability to handle the financial hit of small businesses and call to keep small businesses out of the tariff, as well as call others, as well as others as well Tariff relief measures.
The letter stated that the chamber and its members “appreciate your efforts to interact with other countries to achieve zero-for-transactions on tariffs and reduce non-tariff obstacles for business, appreciating your efforts to interact with other countries,” such deals will promote American exports, support more jobs and high wages.
“While we hope that these agreements can be reached quickly, we are deeply concerned that even though it takes only weeks or months to reach the agreements, many small businesses will suffer irreparable losses. Chamber is listening to the owners of small businesses every day, who recently see their ability to survive from increase in tariff rates,” This tariff is written. “
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The Chamber of Commerce warned, small businesses may lack financial capacity to pay tariffs on imported goods, they need to survive as viable enterprises. (Mark Felix / Bloomberg Getty Image / Getty Image)
Chamber requested Trump administration “Take immediate action to save America’s small businesses and remove the recession by taking three action on tariffs using your rights”.
The first of them will be an automatic exclusion for small business importers, as the chamber says that in small businesses “there is no margin or capital reserves to maintain increased tariffs, nor do they have the ability to quickly modify supply chains.”
The second action requested by the chamber is automatic Tariff exclusion For products that cannot be sour in the US or are easily available from domestic sources to protect businesses and consumers from high cost. Such items currently exposed to tariffs include coffee, bananas, cocoas, and some minerals, while the request also applies to “many other BESPOKE Industrial Input”.
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US Chamber of Commerce CEO and President Suzanne Clarke sent a letter to the cabinet officials of President Donald Trump. (David Kavai / Bloomberg Getty Image / Getty Image)
The third tariff policy request is for a procedure for businesses “obtaining rapid exclusion in situations where the company can showcase that, as applied, tariffs the tariff significantly puts a significant risk for American employment.” The letter states that more than 40 million American jobs rely on business And that is “mandatory” to protect and develop those jobs to run economic development and prosperity.
“The Chamber supports several policy goals of the President, including US Chamber of Commerce President and CEO Suzanne Clarke said in a statement, including improper trade and non-business obstacles and running American investment.” “At the same time, we have heard from a historical number of small businesses that have made it clear: they need immediate relief from tariffs.”
“As each day, small businesses will suffer irreparable damage from rapidly high cost and disrupted supply chains,” he said. “We appreciate the efforts of the administration to interact on more and more new trade agreements that expand the market access to American companies and benefit American workers, but these deals take time, and many businesses can’t just take the risk of waiting during the conversation.”
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For the policy, the White House Deputy Chief of Staff Stephen Miller said that the tariff relief of small businesses will come as a cut package by a cut from the Congress. (Yuri Gripus/Abaca/Bloomberg Getty Embolce/Getty Image)
For policy, the White House Deputy Chief of Staff Stephen Miller was asked about the letter of the Chamber of Commerce during a press briefing on Thursday and said that it would come from relief for small businesses. Tax deduction package The Trump administration and the Republican of the Congress want to move forward in the next months.
Miller replied, “Relief for small businesses is going to come as the biggest tax cut in American history,” Invest in america And criticized Democrats to oppose the bill.
“This will be the most supportive-business tax bill in American history. And at the same time, it is what you have to understand about the plan, as they are able to do so, as they are able to resume those supply chains, it also means that they will not do any tariffs.
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In a follow -up question, Miller was asked if his response means no short -term tariff relief for small businesses.
“This is a yes on tax relief for small businesses. And then, you only pay tariffs for products made outside the United States,” Miller said.
