Senator at Joint Economic Committee Hearing: Businesses in New Hampshire Have Been Targeted by China's Unfair Trade Practices and Harmed by Trade Uncertainty
To watch the Senator’s questioning, click here.
WASHINGTON — At a Joint Economic Committee hearing yesterday, Senator Maggie Hassan questioned Federal Reserve Chair Jerome Powell about the Federal Reserve’s proper role in responding to unfair Chinese trade practices and the Administration’s trade policies that are harming New Hampshire businesses.
“As a member of the Senate Finance Committee, which also has jurisdiction over trade, I'm pushing for clear strategic trade policy that provides certainty to struggling small businesses. As you and I have talked about, I've heard from businesses all across my state that have been targeted by China's unfair trade practices, including the theft of intellectual property and the forced transfer of proprietary technology,” said Senator Hassan. “On top of these economic harms, the administration has manufactured endless trade uncertainty and heaped damaging tariffs on New Hampshire's businesses.”
Chair Powell responded to the Senator emphasizing that these trade actions are “weighing on business sentiment and ultimately on the economy,” and that the Federal Reserve is following these developments closely as it develops its policies.
Senator Hassan has met with and heard from numerous businesses across New Hampshire who are harmed by the Administration’s trade policies. The Senator has repeatedly pushed the Administration to ensure that any trade agreement with China adequately addresses China’s predatory intellectual property practices and establishes an enforcement mechanism to hold China accountable. In addition, earlier this year, Senator Hassan joined her colleagues in introducing two bipartisan pieces of legislation that would ensure that presidents – regardless of which party holds the White House – cannot misuse national security and emergency justifications to impose tariffs unilaterally: the Bicameral Congressional Trade Authority Act and the Trade Certainty Act.