US chamber of commerce considers suing White House over Trump tariffs

Channel: Fox Business
Published: 9 hours ago

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U.S. Chamber of Commerce EVP Neil Bradley says American consumers will bear the brunt of tariffs on Mexican goods. FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York...



Transcript
Perchance for a long time now have been working on mitigation plans as it relates to what's been happening with the conversations in china, the tariffs impact there and now, as of late, this conversation around mexico. We certainly hope that these relationships, these negotiations get resolved and on both sides, whether it's here in the us or mexico or in china we're having conversations to try, e ...
courage that to happen in mexico in particular, people may not know that a lot of our fresh fruit And fruits and vegetables things like tomatoes and avocados come across the border for mexico, so those are particularly important to us. Let'S bring in us chamber of commerce executive. Vice president neil bradleygreat to see you neil now, i there are plenty of good reasons against harris. We'Ve been listening to some of them here on the show and from the representative from walmart, but the border is clearly out of control. It'S it's in crisis mode right now. Mexico is not helping short of tariffs. What would you do to get mexico to help? Well? You'Re, exactly right, tariffs aren't the answer here, but we do have a problem with the southern border and what naproxen it's a real crisis. It'S a crisis. Let'S call what it is. It'S a crisis but, as you all were discussing in the last segment, this is a crisis of the policy on our sidewithin, our government, and what we really need is republicans and democrats congress and the president to come together and address security at the border. Look at our asylum and immigration laws and, frankly, we need to be a partner to mexico who is who are? They are stepping up their efforts both to secure their southern border, but also to deal with the very real economic problems in the northern but hold on a second because you're not specifically answering the question water.

Mexico came up to the table and they said a couple of weeks ago we're gon na help. They didn't follow through with that at all, so they are not pulling their weight at the border. Andin calming the crisis, that's going on there. What could we do to force them to do what they need to do? I think it's a mistake to suggest that it's not in their interest to also control what's going on here. This is a problem that we both share. They aren't coming to the table reluctantly, but frankly, having them come to the table with the threat of us imposing attacks on american consumers and businesses frankly makes no sense. It'S a distraction. Look at what we're talking about we're spending all of our time. Talking about the taxes that americans are gon na pay on everything from avocados to zinc, rather than talking about how our elected officials oughtto come together and deal with this very real problem and and yeah. This is get back not not before the election. That'S not gon! Na happen, we're not gon na have democrats and republicans agree on anything guy. John neal, that's the wiser heavy on the show, sir.

Thank you for coming on. I want to ask you about the lawsuit that you potentially you threatened to filed against the president. The united states. Are you threatening to file this lawsuit because you think it is a wrong policy and it's bad for the american economy. Attacks on the american people as we suggested, or do you think they're it's a it's an overreach of presidential powers, it's certainly the first-. It is a wrong policy. It is bad for the american economy and bad for american families. We are also looking at and diving into whether it exceeds the president's authorities under the statutes and what whoever the president is for, whatever the reason we're a rule of law based country - and you know, imposing taxes on american families by edict without force of law is A pretty dangerous precedent mark this is mark loddon, i'm with the trump campaign. So obviously, i'm gon na strongly disagree with your entire with your entire philosophy there. But can we at least agree that, despite the dire warnings that have been given by economists about the china impact of trade, the priceshave been absolutely basically in check? Inflation is under control and the dire warnings about the economy because of the china issue has not borne any fruit, and the same thing is going to happen here. We know supply side is going to adjust, manufacturers are going to lower their prices, companies will reduce their profits in mexico and the american consumer is not going to to bear the brunt of this. So how do we propose getting rid of dealing with the border issue? Aside from just congress well well mark, i would actually take issue with that conclusion right.

So here's what we know on the china tariffs, so the first round of tariffs were really on intermediarygoods, coming into manufacturing, we're just now beginning to apply tariffs on china to consumer goods, the things that we all purchase it at walmart and at the every store we Have not to date applied tariffs on all in good consumer goods coming out of canada or mexico, they were limited to aluminum and steel. This is the first time that we're suggesting that the administration suggesting do you apply tariffs on everything we import, whether that's from china or mexico. That'S a trillion dollars worth of goods that are coming into this country. We don't know what the impact is gon na be when you apply tariffs of 25 percent, potentially on a trillion dollars worth of goods. Buti'Ll suggest to you that it'll likely raise prices and dampen economic growth and really harm all the great things that the trump administration's been doing on regulatory reform and tax relief. So we've we've helped the economy in some places. This is going to move us in the exact wrong direction. I mean, i would just add, to the the the i forgot his first name, a chamber neal. I would add to neal's point that the these tariffs, but the essence of a trade wars, what's really been hurting. I mean we're now going into our second farm bailout, because china is deciding to change how who they buy the agriculture from the whole idea of trade. Warsis, not even a policy, it makes absolutely no sense we're not going to put a moat around the united states. We should be fear.

We should be looking to build on trade as opposed to put these restrictions on trade, and this idea of tariffs has not worked. It just says no, but you don't think you don't think, there's a problem at the border or even a crisis at the border. I was responding to the though i know, but how how do you deal with the border? You know what you you and i have been arguing, actually agreeing on this for a year. Listen, we think immigration reform would pass on an up and down voteright, but you know this: no. Do congress isn't going to do an up and down vote, so there is no immigration reform coming? I don't have that million next year. I think i have a good answer other than to john's point. This is not really about immigration as much as asylum, and so i think, actually, if we were giving money to the ports of entry as opposed to having this argument about the border wall, i actually think you could get a budget for the president, because i don't See how the democrats could not approve that type of situation at the port of entries. I wouldn't i wouldn't. I want to come back to neal fora. Second, if you don't mind an ask a question: neal, it's carol, roth i'd like to understand the impact of the uncertainty, particularly on small business, because we hear a lot about the walmarts of the world, but we know that 99 % of the businesses in this country Happen to be small businesses and even if they're, not getting a direct impact from the terrorists. The fact that we're using tariffs now as quote-unquote sanctions makes it very difficult to plan. Can you talk a little bit about that? Absolutely at the chamber? More than 90 percent of our members are small businesses and what they're telling us is it's very hard for them to predict what they're orderingwhat their costs are going to be, and so in one hand they look at and say: should we be stockpiling now and incurring Those costs should we be looking to change our supply chain or what the what's the economic outlook going to look like you know the first people that we heard from after this announcement on thursday night were small businesses in arizona and texas, who have already been struggling Under the weight of the real problems at the border, who looked at this and said now, you're gon na compound that problem with new taxes on our supply chains and the very businesses that we operate well, the deadline is monday, so we'll see what happened andneal great To see neal bradley from the chamber, thank you very much for being here.

Please come back and see you soon all right!.


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