The American Chamber of Commerce requested the government to exempt tariffs on products that small corporations import or cannot obtain in the United States. The chamber represents American business interests and exerts significant lobbying power.
In a letter published on the 1st (local time), the American Chamber noted that the recent increase in tariff rates threatens the survival of small corporations and appealed for the government to take immediate action to save them and avoid a recession.
The American Chamber supports the government's efforts to negotiate trade agreements aimed at lowering tariffs and non-tariff barriers from other countries, while expressing deep concern that even if it takes weeks or months to finalize agreements, many small corporations will suffer irreparable damage.
It requested that small corporations, lacking the capital to withstand tariff increases, be automatically exempted from tariffs.
Furthermore, the American Chamber suggested that products that cannot be produced in the U.S. or are difficult to obtain should also be automatically exempt from tariffs.
It also requested the establishment of a procedure to exempt tariffs if corporations can prove a significant risk of losing jobs due to tariffs.
Suzanne Clark, President of the American Chamber, stated, "Whether it's coffee, bananas, cocoa, or minerals, the reality is that some products cannot be produced in the U.S., and raising prices on these items will only harm families struggling to pay for their living expenses."