Industry groups have largely kept a low public profile during the first two months of President Donald Trump’s administration as the spectre of sweeping tariffs loomed.
After Trump announced a baseline 10% global import tax and double-digit “reciprocal tariffs” on several major trading partners Wednesday afternoon, the statements started coming. But given the magnitude of the tariffs, punches were clearly pulled.
Jay Timmons, president and CEO of the National Association of Manufacturers, warned that the “high costs of new tariffs threaten investment, jobs, supply chains and, in turn, America’s ability to outcompete other nations and lead as the preeminent manufacturing superpower.”