…Adding… Chicagoland Chamber…
The Chicagoland Chamber of Commerce released the following statement regarding global tariffs announced this week.
“The Chicagoland Chamber of Commerce is passionate about expanding economic growth, opportunity, and jobs for all our communities here in Illinois and across the nation. Imposing blanket tariffs only serves to increase costs for businesses of all sizes and industries, raise the price of everyday goods for families, and disrupt the supply chain and the ability for our companies to plan for the future. Rather than imposing broad tariffs, we encourage elected officials to focus on policies that promote growth, create common sense regulations, and strengthen our skilled and dynamic workforce. Chicagoland’s business community is proud to be among the leading trade partners around the globe and we stand ready to work with elected officials to find real solutions that build on our successes and continue to drive innovation, growth, and resiliency for decades to come,” said Jack Lavin, President and CEO of Chicagoland Chamber of Commerce.
Nothing from the Illinois Chamber in my inbox.
…Adding… From IRMA…
The Illinois Retail Merchants Association (IRMA) released the following statement regarding tariffs announced this week by the White House:
“Illinois retailers source goods from a wide variety of suppliers across the globe to provide consumers with the product variety and quality they desire at competitive prices. Higher tariffs will increase the cost of these products, including everyday items like clothing and food, which will ultimately be paid by shoppers in the form of higher prices and fewer choices,” said Rob Karr, President & CEO of the Illinois Retail Merchants Association. “Consumers and retailers alike are already stretched thin following years of inflation. We encourage policymakers to focus on ways to provide relief to working families and businesses seeking to grow investments in our communities.”
* From the IMA…
The Illinois Manufacturers’ Association (IMA) released the following statement regarding new global tariffs announced [yesterday]:
“Our state’s economic strength relies on manufacturing, which creates jobs, drives innovation and welcomes widespread investment. The new tariffs announced today will increase the cost of manufacturing products in America, threatening competitiveness and resulting in even higher prices for consumers. The impacts of these tariffs will be felt greatly throughout Illinois, which is the fourth largest exporter in the United States,” said Mark Denzler, President & CEO of the Illinois Manufacturers’ Association. “Rather than across-the-board tariffs, this tool should be used selectively to target countries that are cheating by dumping products, stealing intellectual property, or otherwise not following the rules. Businesses need stability and predictability. Manufacturers encourage the President and Congress to focus on comprehensive growth policies, including federal tax relief, regulatory and permitting reform, unleashing our nation’s energy advantage, and building a skilled workforce. We remain committed to working in partnership with our member companies and federal officials to hold bad actors accountable while also allowing for manufacturing to flourish in Illinois and across the United States.”
* Gov. Pritzker…
Governor JB Pritzker released the following statement on the tariffs announced by President Trump on Wednesday afternoon:
“Donald Trump may want to call this ‘Liberation Day,’ but there is nothing liberating for working families who are grappling with the high costs of food, housing, and utilities.
Tariffs are a tax. They are a tax on working families, a tax on groceries, and a tax on other everyday necessities. Instead of doing anything meaningful to lower prices for Americans, the Trump Tax on Working Families is an extreme escalation against our closest allies that will raise prices just to give Elon Musk and his wealthiest friends a tax break.”
* US Reps. Miller and LaHood…
* From a writer for the Atlantic…
That’s been confirmed.
* Reason magazine senior editor Jacob Sullum…
The White House claims tariffs “do not raise prices” yet somehow “create new incentives for U.S. consumers to buy U.S.-made products.” […]
Peter Navarro, Trump’s senior counselor for trade and manufacturing, estimates that “tariffs are going to raise about $600 billion a year, about $6 trillion over a 10-year period.” As Reason’s Eric Boehm notes, that would amount to “the biggest peacetime tax increase in American history.”
It is still not enough to eliminate the $2 trillion annual budget deficit, let alone make a dent in the national debt, especially since Navarro says the tariff revenue will be needed to cover the cost of extending the income tax cuts Congress approved in 2017.
* Related…
* Mediaite | Whoops! Trump Slaps Tariffs on Uninhabited Islands: Among them, the uninhabited Heard and McDonald Islands – an Australian territory and one of the most remote places on Earth – was slapped with a 10% “reciprocal tariff.” The British Indian Ocean Territory was also slapped with a 10% reciprocal tariff, despite the fact that the only inhabitants of the islands are U.S.-U.K. military personnel and contractors, who occupy a Joint Military Facility in the territory.
* Tribune | In Mexico, Gov. JB Pritzker positions Illinois as a ‘stable and reliable trade partner’ amid Trump tariffs: Pritzker’s update on the trade mission comes the same day Trump announced a baseline tax of 10% on imports from every country and higher tariff rates on a number of nations running trade surpluses with the U.S., according to The Associated Press. The move, according to the news agency, could lead to trade wars and threatens to aggravate the global economy. The governor, an outspoken foe of Trump, reiterated his stance that tariffs are “really a tax on working families” and that they’re not good for the economy and may lead to a recession in the U.S.
