The United States Trade Commission has announced that it will be investigating the economic impact of Section 232 and 301 Tariffs on U.S. industries. In addition, the USTC will be holding a public hearing on the effects of these tariffs July 21, 2022.
This is exciting news because this gives our industry opportunities to be heard by lawmakers who wield the power to make changes in how the government interacts with our business affairs and how their policies affect not only our operating procedures but more importantly, our bottom lines.
Right now, while discussions are happening in the business sector focused on inflation being at an all-time high, predictions about discretionary consumer spending trending down to meet these rising costs, while politically, there are other concerns that are impacting these decisions in a big way. For example, the main concern is how these tariffs can be used as leverage when it comes to trade negotiations with China. However, it’s US industries that seem to be literally paying the price.
This public hearing is a stellar opportunity for us to represent industry interests with a human face. To let decision-makers see the in-person impact of their choices and policies from those of us with boots on the ground. Showing up and being heard is not only a civic duty, it’s good for business.
For those interested in participating:
To appear at the hearing, requests must be filed by July 6 and you can click here to find out more information on how to make that happen. If you’re unable to appear, the commission will be accepting written submissions. Those should be filed by August 24 and you can find out more on how to do that by clicking here.
If you have any questions about this, or other developing situations and opportunities, please reach out to us and we’ll find the answers you need.