The Indiana Chamber of Commerce says the recent increase of tariffs on Chinese goods, along with the subsequent retaliatory tariffs from China, could lead to "devastating effects" for Hoosier businesses. President and Chief Executive Officer Kevin Brinegar says the effects would be felt by companies from a variety of industries.
Last week, the Trump administration increased tariffs on $200 billion of Chinese goods from 10 percent to 25 percent. China responded on Monday saying it would impose a similar increase on $60 billion in U.S. goods.
"We are hearing from a variety of members – from all kinds of manufacturers to agricultural companies – that this latest tariff war with China could have serious business implications for them and even throw some into a fight for survival," Brinegar said. "This is such a big, big deal for Indiana, which annually exports $1.1 billion of goods to China.”
Brinegar says the chamber agrees with President Trump that China "has gotten off far too easy over the last few decades," but adds "there has got to be a better way than putting American businesses and jobs on the line."
He says the chamber is communicating that message to members of Indiana’s congressional delegation and the Trump administration. The chamber is also encouraging business owners and citizens to reach out to their U.S. senators and representatives on the issue.