Senator Hassan Highlights Granite State Business Hurt By President Trump’s Tariffs During Finance Committee Hearing With U.S. Trade Representative Lighthizer
Senator Hassan Also Presses Ambassador Lighthizer to Acknowledge Urgency in Creating Exclusions on Goods for American Businesses Impacted by Trade War
To watch the Senator’s questioning, click here.
WASHINGTON – Senator Maggie Hassan yesterday, during a Senate Finance Committee hearing with U.S. Trade Representative Robert Lighthizer, highlighted the harmful impact that President Trump’s tariffs are having on businesses like NEMO Equipment in Dover, New Hampshire. The Senator specifically raised the importance of having a functional exclusion process in place, so that businesses can make the case to the United States Trade Representative for exempting particular products from the Section 301 tariffs.
“I have heard from companies, like one called NEMO Equipment in Dover, New Hampshire, who are trying to make decisions that impact their growth, such as whether they'll have the revenue to make new hires or not,” Senator Hassan said. “And in order to make these decisions they need to have answers on whether their products will be granted an exclusion. In the interim, they are being subjected to a 25% tariff on a line of products that represents 10% of their overall business.”
Senator Hassan added, “I understand that you're taking a big picture look at this and saying that some, I think the word you used earlier today was some discomfort may be necessary. For NEMO Equipment to re-invent their supply lines will take two years. It's a 25-person company that was just about to launch a whole new sector of growth, and the instability, the tariffs themselves, as well as the lack of certainty and predictability is really holding them back at this point.”
Senator Hassan pushed Ambassador Lighthizer to commit to a quicker timeline for implementing a functional tariff exclusions process for American businesses impacted by the latest round of Chinese tariffs. Ambassador Lighthizer acknowledged the urgent need to set up an exclusion process, as well as the importance of making the exclusion process transparent and predictable.
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