Welcome to Voices on Tariffs, a new series elevating the voices of American business owners, farmers, manufacturers and workers who have felt the effects of tariffs and trade wars. Click here to learn more about the impact tariffs are having on Americans and check back weekly for new installments.
During a hearing on Section 301 Tariffs before U.S. trade officials, manufacturers and manufacturing group representatives warned that the latest round of tariffs, which would slap a 10% tariff on an additional $300 billion worth of Chinese imports, would increase costs for Americans and put domestic jobs at risk, according to Markets Insider. The small business owners who spoke at the forum included Teresa Hack, president, and chief operating officer of Channel Products, a Cleveland, Ohio-based manufacturer of systems and technologies for the gas appliance industry.
“These tariffs will continue to do irreparable harm to our small business. Section 301 tariffs have resulted in an unexpected cost of over $600,000, which is significant for a small business like ours.” Hack said. Speaking about the threat of additional tariffs, she added: “We have determined that an additional cost… on our business would be almost $1 million.”
Click here to read the full story on Markets Insider
American businesses and consumers continue to bear the burden of the global trade war, and tariffs are inflicting harm on companies, farmers, manufacturers, workers and families. The result is higher costs for American businesses and consumers on commonly used products and materials, sapping the vitality of the U.S. economy. Learn more at Trade Works, Tariffs Don’t.