Local businesses across the country are bracing for what amounts to a major tax hike as tariffs on $200 billion in Chinese goods are set to rise from 10 to 25 percent on March 2 unless the United States and China negotiate a deal or extend trade talks.
Increasing tariffs to 25 percent would result in 1 million American job losses.
“It’s my American Dream to own my own business, and March 1 will tell if I have to shut everything down,” Mosee said during a
Mosee is one of 100 business owners and executives who traveled to Washington for the recent
The stakes are high for the U.S. economy. During a
And if the trade situation really escalates? A full-blown trade war with tariffs on everything the U.S. imports from China — along with automobile tariffs and existing steel and aluminum tariffs — would destroy more than 2 million American jobs and reduce the dollar value of U.S. GDP by more than 1 percent. American families would foot the bill for the unfair trading practices of other countries and pay $2,389 more for goods and services each year, erasing the estimated tax reform savings of $1,336 per taxpayer.
To be clear, achieving better trade deals is a valid goal. But American small businesses like MinkeeBlue shouldn’t be caught in the crosshairs. As trade talks continue, the administration must protect the American Dream for hardworking entrepreneurs like Mosee and focus on more negotiations, not more tariffs.