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In a column published Thursday by The Washington Post, U.S. Chamber of Commerce CEO Tom Donohue called on our nation’s leaders on both ends of Pennsylvania Avenue to take immediate steps to restore certainty, boost business confidence and keep America’s economy growing.
“Amid all the talk of a possible recession, it’s important for everyone to remember this: Economic expansions do not die of natural causes,” Donohue writes. “They often die because of missteps and policy mistakes. And the biggest mistake our leaders could make right now — putting our economy at greater risk of a downturn — is to stoke further uncertainty.”
He adds: “We’re calling on our leaders to eliminate the uncertainty, rebuild business confidence and keep this economy working for all Americans.”
Donohue notes that “business confidence is faltering” in recent months and outlined steps the White House and Congress can take to turn the tide and prevent further uncertainty.
“For the Trump administration’s part, the escalation of trade tensions with China must come to an end,” Donohue writes, citing recent U.S. Chamber analysis of earnings calls that show growing concern about tariffs. He called on President Trump and Chinese President Xi Jinping to “withdraw the tariffs scheduled to take effect this weekend — and then again in December — and instead restart their negotiations."
Meanwhile, he noted, “Congress has an immediate opportunity to boost confidence by approving the U.S.-Mexico-Canada Agreement (USMCA) this fall. With our economy on the edge, lawmakers must finish the job without delay and eliminate any question about the future of our trade relationship with our North American neighbors."
In addition: “If Congress really wants to show that it’s committed to keeping the economy on track, it should enact an infrastructure bill. That would boost Main Street confidence in untold ways.”