Pascrell Statement on the Use of Tariffs
WASHINGTON, DC – U.S. Rep. Bill Pascrell, Jr. (D-NJ-09), the Ranking Member on the Ways and Means Subcommittee on Trade, issued a statement following a hearing in the Ways and Means Committee on the Effects of Tariff Increases on the U.S. Economy and Jobs.
“China’s ability to flood the world market with its goods has driven U.S. firms out of business and killed jobs. The trade policies implemented by administrations of both parties to stop this cheating have not worked. A new approach is needed, and tariffs are a tool in our toolbox that can be effective if we use them carefully. But they should be used as a tool, not a weapon.
“I recently visited the Sika Corporation in my district. Sika uses chemicals in manufacturing and employs more than 1,400 people. In fact, as the U.S. takes the lead in chemical manufacturing, chemical companies are New Jersey’s largest industry, directly and indirectly employing more than 100,000 people. This week the Brookings Institute reported that the U.S. chemical industry would be China’s top target for retaliatory tariffs, and rightfully, these industries and others fear the eruption of a trade war.
“These Section 301 tariffs have yet to take effect, and it is my hope that the threat of levies will bring China to the table to negotiate on meaningful changes to their anti-competitive trade policies that have hurt U.S. industries and workers. In the meantime, this Administration must provide a clear plan of action to provide reassurance to New Jersey workers and businesses.”