Statement by Lori Otto Punke, President of the Washington Council on International Trade (WCIT) on reports of potential rollback of tariffs
June, 15, 2022. Seattle WA — WCIT has long advocated for the removal of harmful and ineffective tariffs which have not only raised the prices of essential goods on American consumers, but have also sparked retaliatory measures that have impacted the competitiveness of American products overseas. We are encouraged by reports that the Biden Administration is considering rescinding some tariffs to help address ongoing inflationary pressures and rising prices. Serious review of these measures reflects the positive potential impact tariff removal can have on our economy.
WCIT stands with groups like the New Democrats, the Chamber of Commerce, leaders from both political parties and other business and consumer groups and associations in calling for the smart and swift removal of tariffs and, more broadly, a move away from a tariff-centric trade approach the U.S. has been pursuing since 2017. Washington state’s trade-driven economy is best served by smart trade policies, actions and approaches that leverage more effective measures that avoid direct harm to Washington state businesses, farmers and consumers.
###