In a letter to the White House, the U.S. Chamber of Commerce warns of "irreparable harm" to small businesses and a potential recession if recent tariffs are not eased.
The letter was addressed on Wednesday to Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer, urging immediate action to protect America’s small business community.
Key demands include granting automatic tariff exclusions for small business importers, establishing a clear application process for exemptions when tariffs endanger U.S. employment, and waiving duties on products that the United States cannot produce domestically.
"As each day goes by, small businesses are increasingly endangered by higher costs and interrupted supply chains that will cause irreparable harm," said Suzanne P. Clark, president and CEO of the chamber. She added that raising prices on essentials like coffee, bananas, cocoa and minerals will only deepen the strain on families.
This push underscores a vital debate: how trade measures intersect with the health of small enterprises and the stability of supply chains – a topic resonating with entrepreneurs and markets around the world.
Reference(s):
U.S. Chamber of Commerce warns tariffs hurting small businesses
cgtn.com
