The Columbia Chamber of Commerce has signed onto a national letter of support for legislation by U.S. Senator Bob Corker (R-Tenn.). The bill would require the President to submit to Congress any proposal to raise tariffs in the interest of national security. The Chamber is one of more than 200 national associations and state and local chambers of commerce to support this piece of legislation. All of the entities that signed this letter are concerned about the President’s use to implement tariffs is not in the best interest of the business community. They’re also worried the use of tariffs will have a retaliatory effect with the nations largest trading partners and closest allies. It will affect the economy and have negative impacts on about $350 billion of imports.
There is new threat to levy a 25 percent tariff on the auto industry. These changes could have a serious trickle-down effect and harm many other industries along the way. The solution is the legislation offered by Senator Corker and his colleagues. The legislation will not take any powers away from the President, however, they’re asking for a better use of them and to be continued to be properly used. This will be in the best interest of Congress, national security and the business community.
To read the entire letter and see all of the associations that have signed on, you can see it here.