Arlington, VA – In response to the Trump administration’s announcementtoday that they will move ahead with a 25 percent tax hike on $50 billion worth of Chinese goods imported to the United States, while threatening to impose additional taxes if China retaliates, Americans for Prosperity Chief Government Affairs Officer Brent Gardner issued the following statement:
“If there was anything that could slow down this roaring economy it’s a race with China to see who can raise taxes more. The efforts of this White House to remove regulatory barriers and lower taxes are the reasons why our economy is so strong. Raising taxes and imposing new barriers in the form of tariffs is like placing a row of speed bumps in front of a Ferrari.”
- Individuals, businesses, and countries should be free to engage in the voluntary exchange of goods and services, which improves lives by growing the economy, increasing pay checks, and creating new and better jobs.
- Individuals and businesses in a competitive market, not government bureaucrats or politicians, should guide trade decisions.
- Punitive measures such as tariffs and quotas harm most consumers, workers, and businesses and should be eliminated.
- Subsidies and other forms of government supports for powerful and politically connected businesses and industries do not create value. They punish consumers, insulate businesses from market competition, and should be eliminated.
- Trade disputes should be resolved through existing international trade agreements and organizations.
- While national security interests may be a consideration in trade policy, they should be used to restrict trade only when there is truly a narrow national security interest at stake, not as a work around to impose tariffs.