Today, Congresswoman Nydia M. Velázquez (D-NY), Ranking Member of the House Small Business Committee, led 68 House Democrats in calling on the Trump administration to protect small businesses from the fallout of its escalating trade war.
“Taxes on imported goods hit small businesses the hardest, with 88 percent of small firms relying on imports for the goods they produce and sell. These companies operate on thinner margins and do not have the sophisticated supply chain management staff that larger firms do, putting them at a competitive disadvantage,” wrote the lawmakers. “Small firms also lack leverage in negotiating more favorable terms when they attempt to shift supply chains. The result will spike consumer and input prices across the board, reducing their affordability for everyday Americans and the Main Street businesses they support in the middle of a cost-of-living crisis.”
In the letter, the lawmakers highlight the severe impact that the administration’s erratic decisions around tariffs are already having on American entrepreneurs.
“Entrepreneurs, and the customers who buy from them, cannot reasonably anticipate how products will be priced next month, next week, or even tomorrow. The uncertainty and chaos emanating from these choices, and their timing, create undue anxiety for small employers, workers, and customers alike in nearly every industry,” the lawmakers continued.
The letter urges the administration to engage with small businesses, assess the damage caused by current trade policy, and provide clear, consistent support to those trying to navigate the current economic landscape. Velázquez and her colleagues also called on the administration to honor its promise to lower costs for Americans and end the uncertainty that is putting jobs, livelihoods, and businesses at risk.
“The disastrous effects of this Administration’s tariff policy will force the closure of these small businesses and the loss of the jobs and livelihoods they sustain,” the lawmakers concluded. “We strongly urge you to rethink your trade war – and the recession it is causing – and to make good on your campaign promises to lower prices for Americans.”
In addition to Velázquez, the letter was signed by: Morgan McGarvey (D-KY), Hillary Scholten (D-MI), LaMonica McIver (D-NJ), Gil Cisneros (D-CA), Dr. Kelly Morrison (D-MN), George Latimer (D-NY), Derek T. Tran (D-CA), Lateefah Simon (D-CA), Johnny Olszewski (D-MD), Dr. Herb Conaway (D-NJ), Maggie Goodlander (D-NH), Tim Kennedy (D-NY), Jennifer McClellan (D-VA), Emanuel Cleaver (D-MO), Salud Carbajal (D-CA), Nanette Barragán (D-CA), Hank Johnson (D-GA), Troy Carter (D-LA), Dan Goldman (D-NY), Sydney Kamlager-Dove (D-CA), Jonathan Jackson (D-IL), Shri Thanedar (D-MI), Mike Quigley (D-IL), Greg Landsman (D-OH), Judy Chu (D-CA), Yvette Clarke (D-NY), Dave Min (D-CA), Jerry Nadler (D-NY), Cleo Fields (D-LA), Adriano Espaillat (D-NY), Nikema Williams (D-GA), Juan Vargas (D-CA), Wesley Bell (D-MO), Shontel Brown (D-OH), Brittany Pettersen (D-CO), Scott Peters (D-CA), Betty McCollum (D-MN), Zoe Lofgren (D-CA), Marilyn Strickland (D-WA), Jill Tokuda (D-HI), Veronica Escobar (D-TX), Sean Casten (D-IL), Kweisi Mfume (D-MD), Andrea Salinas (D-OR), Chris Pappas (D-NH), Jim Costa (D-CA), Bill Foster (D-IL), Eleanor Holmes Norton (D-DC), Julia Brownley (D-CA), Suhas Subramanyam (D-VA), Glenn Ivey (D-MD), Gerry Connolly (D-VA), Torres (D-NY), Steve Cohen (D-TN), Valarie Foushee (D-NC), Eugene Vindman (D-VA), Jim McGovern (D-MA), Bennie Thompson (D-MS), Dina Titus (D-NV), Seth Moulton (D-MA), Jared Huffman (D-CA), Laura Friedman (D-CA), Mikie Sherrill (D-NJ), Grace Meng (D-NY), Darren Soto (D-FL), Robert Garcia (D-CA), Joe Neguse (D-CO).
For a full copy of the letter, click here.
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