WASHINGTON, D.C. — Wednesday afternoon, U.S. Senator Peter Welch (D-Vt.), a member of the Senate Finance Committee, convened Vermont businesses for a virtual roundtable to hear about the chaos caused by President Trump’s misguided tariff policies and his Trade War. Earlier this week, the president agreed to pause new 25% tariffs on imports from Canada and Mexico for 30 days, as well as 10% tariffs on imports of oil from Canada—which he had announced days prior, prompting immediate retaliation by Canada and Mexico. President Trump did not pause new 10% tariffs on imports from China. He has also threatened tariffs on imports from the European Union.
“These Trump Tariffs are of enormous concern because of their real practical impacts on enterprises, your companies, on your ability to do your work,” said Senator Welch during the event. “The concerns that I’ve seen and expressed to me by Vermonters are concerns that are being expressed to my Republican colleagues…I think that helps put us in a position to push back and be successful.
“Every single day, I’m going to be thinking about how this impacts you, and on Vermont, because each of you represent a significant part of the Vermont economy, and you certainly represent the Vermont spirit….I want to do everything I can to allow you to continue being successful doing what you’re doing.”
After President Trump’s decision to pause tariffs Canada and Mexico on Monday for 30 days, Senator Welch released the following statement:
“President Trump temporarily backtracking on his Trade War does nothing to give Vermont families, businesses, and farms the economic stability they deserve. Tariffs are taxes, and Trump just made it clear he’s fine with raising taxes on American families,” said Sen. Welch.
Senator Welch was joined by Vermont business owners, dairy and vegetable farmers, maple sugar makers, manufacturers, craft brewers, home heating and energy importers, home construction manufacturing, retailers, bankers, technology leaders, health care experts, transportation industry experts, local and state leaders, and others impacted by tariffs and the president’s reckless economic policies.
During the virtual roundtable, he heard clear concerns from Vermonters, including:
“It feels like death by a thousand cuts.” – Stoni Tomson, a small-scale vegetable farmer in Huntington, VT
“Adding a tariff will either lead to drug shortages in the short term, or long-term significant price increases.” – Jason Williams, University of Vermont Health Network
“If the 25% tariff was applied in full, it would be about a $130,000 – $150,000 unbudgeted hit to our food procurement efforts. And as a charitable organization, we don’t have a consumer to pass along that cost to.” – Jason Maring, Vermont Foodbank
“The ripple-effects that this could have on energy markets, and of course manufacturing, is very heavy.” – Catherine de Ronde, Agri-Mark
“We’re grateful for the pause, and hopeful you can do what you can do to make sure it never comes back.” – Matt Cota, Meadow Hill Consulting
“I’m just concerned in general that it’s going to further stagnate the ability for some of these much-needed construction projects to move forward.” – Matt Cook, PC Construction
“We would be strongly affected by the tariffs in terms of equipment costs for U.S. producers… I’m very concerned with the possible effects of this.” – Dave Folino, Vermont maple producer
“I can foresee this making homes unaffordable—which they already are.” – Denis Bourbeau, Bourbeau Custom Homes
“Our industry has grown in production almost 500% over the last 20 years, and these tariffs would go a long way towards potentially slowing that production.” – Alison Hope, Vermont Maple Sugar Makers Association
“That kind of jolt to our budget—there’s just not room.” – Peter Kahn, Sienna Construction
“There’s just so much unknown, and I’m concerned about the impact on our customers—I’m worried that we’ll lose customers…All of this hurts everyone. It makes everything more expensive.” – Ashley Adams, P.G. Adams
“That would basically squeeze us out of the marketplace.” – Melanie Harrison, a small organic dairy farmer in Addison, VT
“Even though the tariffs aren’t in effect, we’re definitely already feeling the effects.” – Elise Magnant, small organic vegetable farmer in Plainfield, VT
“We’re all working on a very slim margin.” – Steve Parkes, Drop In Brewing
Today, Senator Welch will take these stories and the voices of Vermonters to the confirmation hearing for President Trump’s pick for U.S. Trade Representative, Jamieson Greer, who will lead the President’s tariff strategy.
On Tuesday, Senator Welch took to the Senate floor to blast the proposed tariffs, which would be a tax on Vermonters. Attendees and constituents are invited to share how President Trump’s economic policies will impact their family, farm, or community by sharing their story on Senator Welch’s website.
This event follows a roundtable Senator Welch held in St. Albans on Monday, January 27th, where he heard from businesses and state and local leaders about the President’s threats to reignite a trade war with Canada, Mexico, and China.
In many cases, Vermont manufacturers buy imports from Canada to manufacture into products. However, the ability of Vermont’s small manufacturing businesses to absorb a 25% increase in costs on parts or raw materials is limited. Tariffs on Canada and Mexico could result in layoffs or higher homebuilding costs, increased costs of grain for farmers, and more expensive equipment for maple producers, among other costs that will get passed on to the consumer.
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