The U.S. Chamber of Commerce is sounding the alarm: tariffs are causing "irreparable harm" to small businesses and could tip the economy toward a recession. In a strongly worded letter sent to Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer, the Chamber urged the administration to act fast and ease the tariff burden.
The letter recommends granting automatic exclusions for small business importers, setting up a fair process for companies to apply for exemptions when tariffs risk American jobs, and providing exclusions for products that can’t be produced or readily found in the United States.
Suzanne P. Clark, president and CEO of the Chamber, emphasized, "Whether it is coffee, bananas, cocoa, minerals or numerous other products, raising prices on those items will only hurt families struggling to pay their bills." Her comments highlight the tough reality faced by small business owners amid rising costs and disrupted supply chains.
This call for action is a wake-up call for entrepreneurs and young professionals who know the value of a strong, stable economy. As the debate continues, many are hoping that swift relief measures will keep the local economy thriving and protect everyday families. Stay tuned for more updates! 💡⚖️
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U.S. Chamber of Commerce warns tariffs hurting small businesses
cgtn.com
