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Business Associations Call for Greater Congressional Oversight of U.S. Trade Policy

Washington D.C. – The National Foreign Trade Council (NFTC) joined leading business associations in calling for greater Congressional control over Presidential use of tariffs and other trade policy instruments. This call comes amidst rising concern over the Administrations decisions regarding the implementation of tariffs on imports, even those from our allies, and the damage these tariffs are inflicting on U.S. businesses and consumers.

In a letter delivered to Chairman Hatch and Ranking Member Wyden of the Senate Finance Committee and to Chairmen Brady and Ranking Member Neal of the House Ways and Means Committee late yesterday, close to 60 associations urged Congress to reassert the balance between Congress and the Executive Branch in managing U.S. trade relations.

"We strongly believe that, in order to change the current path that the Administration has chosen to take on trade, Congress must reassert itself and oversee our country's trade policy, especially the use of unilateral tariffs,"
said Rufus Yerxa, President of the NFTC. "As is evidenced by the broad group of trade associations who signed this letter, every sector of the economy is feeling the effects of the Administration's current trade policy, which hurts far more workers and consumers than it could ever help."

To read the full text of the letter, click here.

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About the NFTC

Serving America's Global Businesses Since 1914- The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules- based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.
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