U.S. Chamber of Commerce CEO Suzanne Clark launched a veiled attack on former President Donald Trump's economic nationalist policies, declaring that tariffs and reshoring of U.S. manufacturing threaten the global economy. .
Clark's annual speech Chamber of Commerce executives told big companies late last week that Americans should embrace globalization and free trade instead of trying to replace American jobs lost to China and other foreign countries over the past 30 years. Stated.
The US trade deficit with China since 2001 has almost been eliminated. 4 million American work. Approximately 75% of these lost jobs, or nearly 3 million, were in domestic manufacturing.
“Let's be clear: In times of global economic and geopolitical fragility, it is in America's best interest for other countries' economies to grow and succeed through free markets. Rich countries are stable. “We are a partner, an ally, a ballast against authoritarianism,” Clark said.
All of this is at risk due to protectionist trends worldwide, including here in the United States. Turning inward — erecting trade barriers, imposing tariffs, canceling trade deals, and reactively repatriating supply chains — is damaging to our own economy. It deprives our businesses and workers of new opportunities and raises prices for all Americans. [Emphasis added]
Like free markets, the global economy is not a zero-sum game. No one has to lose for us to win. on the contrary – The rise of the rest means new customers, new markets and new allies for us. [Emphasis added]
Suzanne Clark, president and CEO of the U.S. Chamber of Commerce, speaks at an event in Ottawa, Ontario, Canada, Wednesday, April 19, 2023. (David Kawai/Bloomberg via Getty Images)
The speech was a veiled attack on President Trump's economic nationalist policies, including imposing a flat 10% tariff on all foreign imports and passing the Reciprocal Trade Act.
Both policy proposals are opposed by Wall Street, big business and special interests, which rely on outsourcing supply chains overseas to increase profit margins for executives.
President Joe Biden's White House has condemned President Trump's plan to impose tariffs on all foreign imports, arguing, like the Chamber of Commerce, that such measures would drive up prices for Americans. However, there is little evidence to support this accusation.
According to a Breitbart News analysis, tariffs will not raise prices for Americans.Latest research from the Economic Policy Institute (EPI) Note There is no connection between US tariffs and current inflation.
Meanwhile, a study by the Coalition for a Prosperous America found that imposing tariffs on all foreign imports would create approximately 10 million jobs in the United States and generate more than $600 billion in new revenue. found.
Polls show a majority of critical voting blocs side with Trump on this issue.a new york times/A Siena College November 2023 poll shows three in five voters in battleground states support U.S. tariffs on China.
Congressional Republicans are also considering significant increases in U.S. tariffs. Late last year, the Communist Party of China's House Select Committee recommended that Biden cancel U.S. free trade with China after years of investigation.
John Binder is a reporter for Breitbart News. Please email jbinder@breitbart.com. Follow him on Twitter here.
