President Donald Trump held a rally Aug. 2 in Wilkes-Barre, where he touted his “America First” trade policy that has included the imposition of tariffs on a variety of goods from countries with which the United States has traditionally enjoyed a strong trade partnership, including Canada and Mexico. These tariffs have prompted approximately $75 billion worth of retaliatory tariffs on American products – increasing costs on American families, workers, consumers and job creators. The Chamber is seeking input from members on positive and negative impacts of these tariffs on businesses in our area.
The administration is reportedly considering hundreds of billions of dollars in additional tariffs – including on autos and auto parts – which many business leaders and economists are saying will invite more retaliation against American businesses. The U.S. Chamber is leading an effort to educate the business community and the general public about the negative economic impact of these tariffs through a comprehensive website, TheWrongApproach.com, which highlights the economic losses that each state could endure through the imposition of these tariffs.
The data on the website shows that this emerging trade war is threatening to undo the good that was achieved through last year’s Tax Cuts & Jobs Act, along with regulatory reforms that have been implemented since the start of the Trump administration. Retaliatory tariffs imposed by other countries on U.S. exports will make American-made goods more expensive, resulting in lost sales and potentially 1.6 million lost jobs. In Pennsylvania, $1.7 billion worth of exports are at risk, including coffee, motorcycles, and steel; along with 1,658,100 jobs in the Commonwealth that are supported by global trade.
Members are invited to provide information on any impacts of tariffs to Chamber President Fred Gaffney at 570-784-2522 or email. Information can be kept anonymous at member request.