Washington, DC—Business Forward President Jim Doyle released the following statement after President Trump’s State of the Union Address:
“President Trump tonight claimed credit for America’s job growth, but his misguided steel tariffs raised prices for American manufacturers and the Americans who buy their products. While we absolutely need to end unfair trade practices, the current tariffs are hurting U.S. exports. When our trading partners retaliated with tariffs against American crops, beef, dairy, clothing, and other goods, Trump escalated, throwing even more industries into the fire. Now, global companies are delaying planned investments in U.S. plants and infrastructure, favoring countries with more reliable leadership. Those lost investments undermine America’s long-term competitiveness.”
In October, Business Forward released a report, Unpacking the Economic Harm of Trump’s Tariffs: Higher Prices, Bad Faith, Litigation, Retaliation, Escalation, and Uncertainty.
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