Tariffs Are Taxes

Floor Speech

BREAK IN TRANSCRIPT

Ms. KAPTUR. Mr. Speaker, the United States has not had a trade surplus in over half a century. Trade deficits translate into lost jobs and lost wealth for the American people. Balancing U.S. trade accounts is an imperative and a worthy objective, but Trump administration tariffs on the American people's purchases are taxes that cost them more money on everything, a lot more: a lot more for food, for gas, for building materials, for cars, for trucks, for everything.

Today, after the market bled off nearly $10 trillion in lost U.S. wealth last week, the President adjusted some tariffs, but nothing he did is reshoring American reinvestment here in our country. Our Nation imports three-quarters of our fruits and vegetables. We need agricultural reinvestment here in the good old USA.

NAFTA caused the cataclysmic outsourcing of U.S. manufacturing in autos and trucks. The President should focus on incentives to reshore U.S. production, not build more barriers.

Focus on free trade among free people. Help us with our best trade ally, Canada, especially those of us who live in the north. We believe in our fair trade partners around the world. Build on success. The American people need economic growth, not any more tourniquets around their necks because of tariffs.

BREAK IN TRANSCRIPT

Source