The U.S. Chamber of Commerce President Suzanne Clark is urging President Trump to exempt small American businesses from tariffs, warning that if the negotiations continue for even a month or two, there is a strong risk the country will fall into a recession.
“The U.S. Chamber of Commerce and our members appreciate your efforts to negotiate bilateral agreements with other nations to achieve zero-for-zero reciprocity on tariffs and reduce non-tariff barriers to trade,” begins the letter from U.S. Chamber of Commerce President Suzanne Clark to President Donald Trump, Treasury Secretary Scott Bessent, and U.S. Trade Representative Jamieson Greer.
The Chamber is in favor of “agreements that meaningfully reduce barriers to trade expand U.S. exports, supporting more jobs and higher wages for American families,” Clark adds.
However, the letter continues, “we are deeply concerned that even if it only takes weeks or months to reach agreements, many small businesses will suffer irreparable harm. The Chamber is hearing from small business owners every day who are seeing their ability to survive endangered by the recent increase in tariff rates.
To “stave off a recession,” the U.S. Chamber of Commerce is asking the Trump administration to immediately begin a “tariff exclusion process” removing all tariffs on small businesses and on product that “cannot be produced in the U.S.”
Asked during a press briefing on Thursday morning if President Trump is considering the chamber’s request, White House Deputy Chief of Staff Steven Miller responded that he is not.
“The relief for small businesses is going to come in the form of the largest tax cut in American history,” Miller said, CNBC reports.
Miller added that Trump has “made clear” that companies that invest in the U.S. will not be tariffed.
Lee Barney ✉
Lee Barney, Newsmax’s financial editor, has been a financial journalist for 30 years, covering the economy, retirement planning, investing and financial technology.
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