Chamber urges tariff relief to save small businesses
The American Chamber of Commerce is calling on the Trump administration to urgently lift tariffs on products imported by small businesses. It warns that without immediate action, many enterprises may not survive, and the effects on the U.S. economy could be irreversible, reports CNBC.
The American Chamber of Commerce has appealed to Donald Trump's administration for the immediate implementation of tariff exclusion processes. The goal is to protect the U.S. economy from a recession and prevent "irreversible damage" to small businesses.
In a letter first published by CNBC, the lobbying organization urged key trade officials of Trump to automatically lift tariffs on all products imported by small businesses and those that "cannot be produced in the U.S." or are not available on the domestic market.
"tariffs are a risk to employment"
A letter signed by the Chamber's CEO, Suzanne Clark, also includes a request to establish a process that allows companies to quickly obtain tariff exclusions if they can demonstrate that import tariffs pose "a significant risk to employment in the U.S."
"We are deeply concerned that even if it only takes weeks or months to reach agreements, many small businesses will suffer irreparable harm," wrote Clark in the letter sent Wednesday evening to Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and U.S. Trade Representative Jamieson Greer.
The Chamber requests the administration take immediate actions to save America’s small businesses and stave off a recession, she added.
