Shaheen Speaks with New Hampshire Chamber of Commerce Leaders About Potential Harms from Delayed Trump Tariffs

(Washington, DC) – U.S. Senator Jeanne Shaheen (D-NH) spoke with representatives from local Chambers of Commerce across New Hampshire about the harmful impact of the potential Trump tariffs on Mexico and Canada, New Hampshire’s largest trading partner. As of earlier this week, these tariffs have been delayed 30 days, but if they go into effect, prices on everything from gas to cars to groceries could skyrocket, hurting Granite Staters and Granite State businesses. Representatives from the New Hampshire Business and Industry Association, Exeter Area Chamber of Commerce, Hampton Area Chamber of Commerce, Upper Valley Business Alliance, Greater Concord Chamber of Commerce, Greater Monadnock Collaborative, Greater Dover Chamber of Commerce, Mt. Washington Valley Chamber and the Greater Portsmouth Chamber Collaborative joined the virtual conversation.

“I’ve spoken with business leaders from around the Granite State, and they’ve told me that what they need to grow and create good-paying jobs that boost our economy is stability and certainty about the economic policies they are facing,” said Shaheen. “To be clear, I’m glad that President Trump has delayed these tariffs, but a delay is not enough. We need to focus on lowering costs for working Americans, not starting a needless and dangerous trade war that would increase prices on critical items and create more uncertainty.”

Shaheen immediately condemned the proposed Trump tariffs after they were announced. On Tuesday night, Shaheen took to the Senate floor to detail the harmful impacts that the delayed Trump tariffs would have on Granite Staters. Last week, Shaheen led the New Hampshire Congressional Delegation in sending a letter to the White House urging him not to impose tariffs on Canada, Mexico and China which are expected to cost the average American $1,200 per year.

Earlier this year, Shaheen introduced new legislation with U.S. Senators Ron Wyden (D-OR) and Tim Kaine (D-VA) to shield American businesses and consumers from rising prices imposed by tariffs on imported goods into the United States. The Senators’ legislation would keep costs down for imported goods by limiting the authority of the International Emergency Economic Powers Act (IEEPA)—which allows a President to immediately place unlimited tariffs after declaring a national emergency—while preserving IEEPA’s use for sanctions and other tools.

After the November election, a multitude of business leaders verified that, if the President placed sweeping tariffs as promised, they’d be forced to raise prices on consumers. The CEO of Best Buy said, “the vast majority of that tariff will probably be passed on to the consumer as a price increase.” The CFO of Walmart said, “there will probably be cases where prices will go up for consumers.” The CEO of Columbia Sportswear said, “we’re set to raise prices” and “it’s going to be very, very difficult to keep products affordable.” The CEO of AutoZone said, “if we get tariffs, we will pass those tariff costs back to the consumer.” The President of a Texas-based Lipow Oil Associates said, “The prices at the pump are going to go up.”

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