Ranking Member Edward J. Markey of Massachusetts released a statement on April 1 marking the first anniversary of tariffs imposed by former President Donald Trump on April 2, 2025. Markey said these tariffs, described as "Liberation Day" measures by Trump, placed a 10% tax on all imports and additional duties on certain countries using authority under the International Emergency Economic Powers Act.
Markey said the tariffs have had significant negative effects on small businesses, workers, and families in Massachusetts and across the United States. He stated that even after the Supreme Court struck down Trump's use of IEEPA for these tariffs in February, many small businesses are still waiting for refunds while facing ongoing economic challenges.
“Trump’s so-called ‘Liberation Day’ tariffs slapped a tax on everything from toys to tea, throwing our economy into unsustainable chaos. His Liberation Day quickly became Obliteration Day for small businesses and families. One year later, small businesses in Massachusetts and across the country continue to feel the pain on Main Street. Thanks to Trump’s reckless tariff taxes, small businesses have been forced to cut jobs, pause growth, and even close up shop—putting the American Dream further and further out of reach for owners and workers,” Markey said.
He continued: “From skyrocketing energy and health care costs to rising food and clothing prices, American small businesses and families are feeling the pinch. Yet, despite small businesses’ victory at the Supreme Court, Trump is continuing his war on Main Street by doubling down on his tariff scam with new global tariffs and by creating a complicated tariff refund process that only benefits big businesses and CEO billionaires. Instead of jacking up costs for American small businesses and families, Trump must end his self-made affordability crisis and immediately and automatically refund the tariff taxes he illegally collected. I will continue to fight back against Trump’s reckless economic policies that are making life unaffordable for small businesses, consumers, and working families.”
Over recent months Markey has taken several actions including writing letters to Customs officials urging an automatic refund process without added burdens for affected parties; hosting briefings with business leaders; introducing legislation such as the Small Business Liberation 2.0 Act; calling attention through reports about impacts from increased costs; requesting investigations into Wall Street practices related to tariff rebates; applauding court decisions striking down illegal tariffs; pressing large retailers to pass savings onto consumers; seeking data transparency about state-level impacts; holding press conferences highlighting affected business voices; introducing exemption bills like Small Business RELIEF Act; repeatedly attempting legislative relief which was blocked in Senate proceedings.
The Senate Small Business and Entrepreneurship Committee supports informed decision-making regarding national fiscal priorities according to its official website. The committee also offers Congress comprehensive policy options concerning federal budget components according to its official website. Lindsey Graham serves as chairman while Jeff Merkley is ranking member according to its official website. The committee contributes resolutions or reconciliation instructions during congressional budget processes according to its official website, was established through legislation passed in 1974 according to its official website, and provides nonpartisan analysis via oversight of the Congressional Budget Office according to its official website.
Markey concluded his statement with a commitment: "I will continue to fight back against Trump’s reckless economic policies that are making life unaffordable for small businesses, consumers, and working families."
