WASHINGTON DC – National Foreign Trade Council (NFTC) President Jake Colvin released the following statement in response to the announcement that some tariffs have been paused by the Administration:
“The pause is a step in the right direction but let’s not celebrate the fact that it appears to leave in place a new baseline of 10% tariffs on most countries, plus significant levies on China, steel and aluminum and autos with the promise of more duties to come.
“While this temporary pause may lessen the immediate pain, it doesn’t diminish the uncertainty that is paralyzing companies’ trade, sourcing, and investment calculations as well as Americans’ ability to budget for their families and their future.
“We encourage the Administration to continue to deescalate and identify durable paths forward to eliminate these duties, rebuild trust and minimize future uncertainty with our international economic partners.”
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About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.
