WASHINGTON, D.C. – National Foreign Trade Council (NFTC) Vice President for National Security Policy Jeannette Chu issued the following statement today in response to the passage by the House of Representatives of the Lindsey O. Graham Sanctioning Russia and Iran Act:
“Congress may live to regret its decision to pass the Lindsey O. Graham Sanctioning Russia and Iran Act, which will give the President unprecedented authority to apply sanctions through new secondary tariffs.
“While the goals of the bill are laudable, it is perplexing that Congress has chosen to give the President additional authority given his enthusiasm for raising tariffs on allies and adversaries alike.
“We urge the administration to be transparent, use restraint, and consider the potentially broad unintended consequences of imposing tariffs under this bill’s authority. For example, providing objective and verifiable criteria for determining which trading partners to tariff, along with clear offramps, can bring much-needed transparency to the implementation process.
“As we have previously warned, the consequences of these new tariffs could extend to our closest allies and partners and even to Ukraine and its citizens – the very people this law was intended to help.”
Read more about the potential consequences of the use of secondary tariffs here.
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About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade, tax, national security, and supply chain policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses, who account for over $6 trillion in revenue and employ nearly 6 million people in the United States.
