Ranking Member Markey has joined legislation aimed at exempting small businesses from tariffs imposed by former President Donald Trump on Canadian imports. The bill is a response to concerns that these tariffs are increasing costs and creating economic challenges for small businesses in the United States, particularly those in regions like New England and Massachusetts, which rely heavily on trade with Canada.
"Donald Trump is hell-bent on turning Main Street into Pain Street for America’s small businesses. Trump’s tariffs threaten to supercharge costs in New England and Massachusetts, a region and a state that relies on trade with Canada to meet the bottom line," said Ranking Member Markey. "Blanket tariffs will only lead to layoffs, closures, and economic pain."
Senator Welch emphasized the impact on Vermont's economy, stating, "Small businesses are the beating heart of Vermont’s economy, and they operate on the thinnest of margins. There’s no way small businesses can be expected to absorb the costs of President Trump’s tariffs."
Leader Schumer criticized the broader implications of the tariffs: "Instead of lowering costs for families, Trump’s destructive tariffs are raising prices and hurting American small businesses."
Senator Shaheen highlighted how New Hampshire is affected due to its proximity to Canada: "Canada is New Hampshire's northern neighbor and largest trading partner, meaning Granite State small businesses are especially hard hit by these blanket tariffs."
Senator Murkowski from Alaska shared similar sentiments: "I’ve heard loud and clear from small businesses in Alaska: tariffs are forcing prices to rise and making it difficult to plan long-term."
Virginia's Senator Kaine added his voice: "President Trump’s broad-based tariffs are causing economic chaos, uncertainty, and higher costs for families and businesses."
Senator Collins pointed out Maine's reliance on Canadian trade: "Imposing tariffs on Canada, Maine’s closest trading partner, threatens jobs, drives up costs, and hurts small businesses."
Senator Wyden concluded with strong words against the policy: "Trump’s Canada tariffs don’t make sense for ANYONE but especially not for American small businesses."
The CANADA Act has garnered support from organizations like Main Street Alliance and Small Business Majority. Shawn Phetteplace from Main Street Alliance stated that predictable US trade policy is essential for maintaining a beneficial relationship with Canada. John Arensmeyer of Small Business Majority expressed concerns about inflation and job losses if measures aren't taken soon.
The full text of the bill is available for reading and download.
