Tariffs undermine economic stability for american companies and consumers
Credits: AAFA The American Apparel & Footwear Association responds to 25 percent additional tariffs on virtually all U.S. imports from Canada and Mexico and 10 percent tariff on all U.S. imports from China (on top of existing extra tariffs). "These new tariffs are compounding rapidly. Amid other hints at hitting hard on the EU and other allies as well, each HTS code of tariffs snowballs into a growing - and potentially crushing - burden on American businesses and hardworking American families," said Steve Lamar, AAFA president and CEO. "Uncertainty and instability are corrosive, undermining the vitality of our consumer driven economy, and the 3.5 million American jobs created by our industry. We look forward to discussions with Administration officials, including U.S. Trade Representative Ambassador Greer and Commerce Secretary Howard Lutnick, on needed guardrails that will allow us to champion smart trade policies. It is vital that our government’s actions be aligned so that they benefit both the crucial exports of American-grown and American-manufactured goods as well as U.S. imports of safe, affordable, and innovative consumer products. Both sides of this trade equation support hundreds of millions of American consumers and workers, and the communities in which they live. We also look to the 119th Congress to assert its constitutionally mandated roles on tariffs to ensure these trade policies can achieve their objectives in a clear manner and to reactivate and renew beneficial trade agreements and trade preference programs that leverage U.S. economic objectives while promoting predictable market access." Last week, AAFA praised the introduction of legislation to renew Haiti HOPE/HELP for ten years. AAFA is also a proponent of renewing The African Growth and Opportunity Act (AGOA) and retroactive renewal of the Generalized System of Preferences (GSP), which has been expired for more than 50 months. ABOUT AAFA Read more about AAFA on their company page
The American Apparel & Footwear Association responds to 25 percent additional tariffs on virtually all U.S. imports from Canada and Mexico and 10 percent tariff on all U.S. imports from China (on top of existing extra tariffs).
"These new tariffs are compounding rapidly. Amid other hints at hitting hard on the EU and other allies as well, each HTS code of tariffs snowballs into a growing - and potentially crushing - burden on American businesses and hardworking American families," said Steve Lamar, AAFA president and CEO. "Uncertainty and instability are corrosive, undermining the vitality of our consumer driven economy, and the 3.5 million American jobs created by our industry. We look forward to discussions with Administration officials, including U.S. Trade Representative Ambassador Greer and Commerce Secretary Howard Lutnick, on needed guardrails that will allow us to champion smart trade policies. It is vital that our government’s actions be aligned so that they benefit both the crucial exports of American-grown and American-manufactured goods as well as U.S. imports of safe, affordable, and innovative consumer products. Both sides of this trade equation support hundreds of millions of American consumers and workers, and the communities in which they live. We also look to the 119th Congress to assert its constitutionally mandated roles on tariffs to ensure these trade policies can achieve their objectives in a clear manner and to reactivate and renew beneficial trade agreements and trade preference programs that leverage U.S. economic objectives while promoting predictable market access."
Last week, AAFA praised the introduction of legislation to renew Haiti HOPE/HELP for ten years. AAFA is also a proponent of renewing The African Growth and Opportunity Act (AGOA) and retroactive renewal of the Generalized System of Preferences (GSP), which has been expired for more than 50 months.
