(Springfield, Mo.) The U.S. Chamber of Commerce is launching a campaign to push back against President's Trump's new tariffs.
The new campaign laid out this week is an aggressive effort by the pro business group to combat what it calls nothing more than a tax increase on american consumers and businesses.
"We always as chamber of commerce have always been supportive of free and open trade to the extent that can be insured while still protecting the intellectual property rights of U.S. interest and also just fair trade practices from our partners," explains Matt Morrow, President, Springfield Area Chamber of Commerce.
Morrow says the size and scope remain under debate, however the U.S. Chamber of Commerce is warning that the annual tariffs would be devastating.
"We do generally hope that any tariff approach right now is a more of a short term targeted tactical effort because ultimately a long term protracted trade is not in anybodies best interest."
Morrow also expressed concerns about looming global trade fights, saying nobody likes tariffs, but counseled patience, scrutiny, and a focus on the bigger picture.
"You have to carefully evaluate each one individually. So because there not all created equally one of the things that’s a big consideration right now is which of these have waivers, which tariffs have certain exclusions that might be in the best interest of U.S. companies, U.S. producers.
According to a report by Reuters, China is expected to impose a new 25% tax on soybeans this month. Mexico is increasing duties to pork imports. The European Union has targeted $3.2 billion in american goods exported, including Bourbon and Harley Davidson.
"There will be increased pressure on the supply chain domestically so it’s kind of a trickled down effect. Even if you don’t normally source your materials from foreign trade partners the lack of available goods at a comparable price from foreign trade partners ultimately does have an impact."
Pro business leaders say these tariffs could be arguably more consequential, both at home and abroad.
"We hear anything from to no impact yet to maybe a 3%-10% impact so far on the cost of specific material and I think we’re really just starting to see what that ultimately could mean.