Columbia Chamber of Commerce calls for check on Trump’s trade war
BRANSON MO NEWS: Missouri’s agricultural and manufacturing-based economy stands in the direct line of fire of President Donald Trump’s trade war. In anticipation of the $34 billion on tariffs against Chinese goods that went into effect right after midnight Friday, the Columbia Chamber of Commerce last week joined with a coalition of over 200 other national, state and local business and agriculture groups to support congressional oversight of Trump’s foreign trade policy.In retaliation for Friday’s tariffs, China announced its own tariffs against U.S. exports, including some of Missouri’s most profitable products, such as pork, beef and soybeans.
“It is now also increasingly clear that the way the steel and aluminum tariffs have been used will result in retaliatory tariffs from our largest trading partners and closest allies, and that retaliation will have serious negative economic impacts on the United States,” read the coalition’s June 26 letter to the U.S. Senate which was endorsed by the chamber. The letter endorsed a piece of legislation (S. 3013) sponsored by U.S. Sen. Bob Corker, R-TN, which would mandate the president submit any proposal to raise tariffs to Congress.Although Article I of the U.S. Constitution already gives Congress the express power to regulate tariffs, the Cold War-era Trade Expansion Act of 1962 allowed the president to bypass this process in the interest of national security.”While the President should still have this type of authority, the current circumstances highlight the need for Congress to ensure that the authority will be used, as intended by the Congress, in the overall national interest,” the letter said.The bill is still awaiting a hearing in the Senate Committee on Finance.The sentiments of the proposed law resonated with Columbia’s business community.”We believe that free trade works, tariffs don’t,” Jerry Dowell, director of government affairs for the chamber, said. ” …
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