WASHINGTON, D.C. – National Foreign Trade Council Vice President for Global Trade Policy Tiffany Smith released the following statement in response to the Trump Administration’s announcement extending the pause on country-specific tariffs through August 1.
“Extending the current pause on country-specific rates so that more deals can be reached is a welcome move, though it also prolongs uncertainty for American businesses. That uncertainty was further compounded today by President Trump’s suggestion of new 50% duties on copper and the potential for future tariffs on pharmaceuticals. High tariff rates, ongoing strategic uncertainty, and the tenuous nature of those deals that are negotiated continue to paralyze business decision-making while eroding trust with our allies and major trading partners.”
“We hope U.S. negotiators and America’s major trading partners will take this opportunity to reach durable deals and together restore predictability to trade.”
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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.
