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Chamber of Commerce Projects Cost of Tariff Bailout

Tuesday, August 7, 2018

(North American Meat Institute)

The total cost of an aid package to provide support to U.S. farmers, producers, manufacturers and others affected by U.S. tariffs and retaliatory measures could reach $39 billion, according to an analysis by the U.S. Chamber of Commerce. The $39 billion figure includes the recently announced $12 billion in programs to assist the agricultural sector plus $27 billion to support other affected sectors. According to the analysis, prepared food manufacturers would need $884 million in aid, whereas chemical manufacturers would require $960 million in assistance and automobile manufacturers would likely need $7.6 billion in support. The Chamber's report encourages the Trump Administration to expand free trade agreements and remove tariffs to provide relief to those most affected by these actions.

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