NTU urges all Representatives to vote“NO” on H.R. 4105, a bill that would sanction further rounds of punitive tariffson imports from countries such as China and Vietnam. These “countervailingduties” would impose higher costs on American consumers and businesses whilethreatening to escalate a trade war during this shaky economic recovery.
Economics101 tells us that tariffs amount to nothing more than tax increases on our ownpeople. Equally troubling, these duties would constitute yet more hostile firein a destructive trade war that recently saw China respond to American tariffson tire imports by retaliating with its own tariffs on certain Americanautomobiles and chicken products.
Supportersof the bill claim that we must offset efforts by “nonmarket economies” tosubsidize products for export to the American market because artificially cheapgoods compete with domestic manufacturers. But those goods are also importantinputs for products assembled in this country and policies that raise the costof purchasing them will necessarily harm American businesses.
Because thismisguided legislation could imperil our fragile economy, NTU urges allRepresentatives to vote “NO” on H.R. 4105, the countervailing duties bill. Rollcall votes on this measure will be significantly weighted in our annualRating of Congress.
If you have any questions, please contact NTU Vice President of Government Affairs Andrew Moylan at(703) 683-5700