Arlington, VA — ACI has joined with a coalition of prominent organizations representing millions of American taxpayers and consumers that has issued a joint letter urging Congress to reclaim authority over tariff policy and reject the use of tariffs imposed without congressional approval. The coalition emphasizes that tariffs, while intended to protect American industries, often harm consumers, stifle innovation, and reduce economic prosperity.
The coalition highlighted the constitutional responsibility of Congress to oversee tariff policy, advocating for a return to principles that prioritize economic growth and consumer welfare. By adopting measures like the No Taxation Without Representation Act and the Prevent Tariff Abuse Act, Congress can ensure tariffs are used judiciously without unintended economic harm.
Read the full letter here.
Key Takeaways
- Tariffs Fail to Reduce Trade Deficits: Contrary to popular belief, trade deficits are shaped by macroeconomic factors rather than tariffs. Historical data shows that increased tariffs have not meaningfully reduced trade deficits.
- Limited Benefits from Tariffs on China: The Phase One Agreement with China failed to deliver significant changes in China’s trade practices, leaving American workers and businesses without meaningful relief.
- Economic Harm from Tariffs: Studies reveal that tariffs, such as those implemented under the Trump administration, cost American consumers and businesses billions annually due to higher prices and reduced economic output.
- Advocating for Congressional Oversight: The coalition calls for Congress to reclaim its constitutional role in tariff policy, ensuring decisions align with long-term economic and consumer interests.
The coalition urges lawmakers to adopt reforms that restore Congress’s authority over tariffs and implement policies that support free markets and economic growth. By passing legislation such as the No Taxation Without Representation Act and similar measures, Congress can prevent overreach and ensure tariffs serve their intended purpose without unintended consequences.
Read the full letter here.
For media inquiries, please email [email protected] to inquire about the above content.
The American Consumer Institute is a nonprofit education and research organization. For more information about the Institute, visit www.TheAmericanConsumer.Org or follow us on Twitter (X) @ConsumerPal.