Industry and corporate leaders are speaking out against the Trump administration’s decision to impose tariffs on Canada, Mexico, and China. The tariffs, which will range from 10% to 25%, will have a significant impact on various industries, including homebuilders, alcohol producers, and retailers.
John Murphy, senior vice president of the U.S. Chamber of Commerce, said that the tariffs will only raise prices for American families and upend supply chains. He urged the administration to reconsider the decision and work with Congress and the affected industries to find a solution.
The United Auto Workers Union, meanwhile, supports the tariffs as a way to protect American manufacturing jobs, but expressed concerns that the administration’s anti-worker policies at home will continue to harm American workers.
Other industry leaders, including the president of the Alliance for Automotive Innovation, the American Automotive Policy Council, and the National Association of Manufacturers, have also spoken out against the tariffs. They argue that the tariffs will increase costs for American businesses and consumers, and undermine the competitiveness of the U.S. auto industry.
The National Association of Home Builders, the Distilled Spirits Council of the U.S., and the Chamber of the Tequila Industry and Spirits Canada have all expressed concerns that the tariffs will increase the cost of construction materials and consumer goods, and harm the economy.
Retailers, including Walmart, Lowe’s, and Best Buy, are also bracing for price increases due to the tariffs. They are working to minimize the impact on consumers, but may have to pass on some of the increased costs to customers.
Overall, the tariffs are expected to have a significant impact on the economy, and many industry leaders are urging the administration to reconsider the decision and work with Congress and affected industries to find a solution.