Fischer Highlights for Biden Stories of Nebraska Businesses Harmed by Tariffs

Press Release

Dear Mr. President:

For more than three years, we have highlighted the harm to U.S. businesses from tariffs
and the trade war. While campaigning, you acknowledged this harm when you stated "American
farmers, manufacturers and consumers" were "losing and paying more." We agree, and we write to highlight the stories of many businesses that are seeking a de-escalation of the trade war
and to urge your administration to eliminate tariffs and quotas that are harming so many businesses and consumers.

Many U.S. businesses have described the negative, unintended consequences of tariffs
over the last three years. Unfortunately, it is difficult to find a U.S. industry that has not been
negatively affected by tariffs and the trade war. These industries and businesses have faced increased costs, lost sales and market access, and competitive disadvantages due to the tariffs.
Moreover, many businesses have described that the primary beneficiaries of the trade war are
their foreign competitors that do not face the same tariff costs.

In addition to these competitiveness concerns, many businesses have been forced to make
difficult decisions to keep their operations afloat. Some businesses have forgone expansions,
productivity improvements or hiring new employees, and in some cases have had to lay off employees. We have heard from a number of manufacturers and businesses that have raised the
price of their products to account for the sharp rise in cost of their materials and inputs, which
has led to the loss of customers. Many farmers have lost access to growing markets and experienced significant price drops for their commodities, which has reduced profits. Many businesses
have been forced to hire politically-connected lobbyists and seek assistance from legislators to
navigate the complex and opaque tariff environment. It is simply wrong that so many businesses have suffered so that a few businesses may benefit.

It is necessary for your administration to evaluate the tariff experiences of the last three
years and determine the policies that have worked and those that have not. As you have stated,
the trade war has been damaging and disastrous to many U.S. businesses. We agree that the
federal government must stop those actions that are damaging immediately. We also agree with
your Administration's strategy that seeks to work more closely with allies. We believe this must be the centerpiece of any successful efforts to build relationships and ultimately, to hold
China accountable for human rights and trade abuses. An important first step would be to reduce
the barriers to trade with our allies. By doing so, we can stop damaging actions and retaliation
and mend relationships while listening to the businesses across the country that have suffered
from the negative economic consequences. We urge the Administration to listen to the many
stories of these businesses and end the self-inflicted harm from the trade war.

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