The US Chamber of Commerce is warning that new tariffs imposed on several major trading partners could spark a global trade war. Already, Canada, Mexico, the European Union and China have retaliated or announced plans to do so.
In a one page fact sheet about Wisconsin trade with these nations, the Chamber points out that over $1 billion in state exports are under threat, including paper and agricultural products:
"Tariffs imposed by the United States are nothing more than a tax increase on American consumers and businesses, including manufacturers, farmers, and technology companies, who will all pay more for commonly used products and materials. Retaliatory tariffs imposed by other countries on U.S. exports will make American-made goods more expensive, resulting in lost sales and ultimately lost jobs here at home. This is the wrong approach, and it threatens to derail our nation's recent economic resurgence."
Messages to Congress urged
Visit www.TheWrongApproach.com to see the impact of new tariffs on all 50 U.S. states, and learn how you can contact Congress to send a message about the importance of trade to Wisconsin.
Learn more in person at our August Eggs & Issues breakfast
John Kirchner from the US Chamber will join us on for a Federal Issues Update and Election Outlook.
Details: Friday, August 17, 7:00-8:30 a.m. at the Chamber Office, click here for information or to register
Posted by: Scott Rogers, Governmental Affairs & Workforce Director