Political Quotes

“The sponsors seek the International Trade Commission, or ITC, to conduct a study under section 338 of the Tariff Act of 1930. The study would examine the domestic impact of President Trump's tariffs on Canada and Mexico and of potential retaliatory measures. Section 338 studies are resource-intensive endeavors for the ITC. The chair of Finance is one of the individuals authorized to request such studies and historically has done so sparingly to conserve precious few ITC resources. I fail to see why we should expend those resources when a number of private groups are already developing economic models on the tariffs at issue. Furthermore, it bears emphasis that the tariffs are not redressing economic issues but, rather, the Biden administration's failure to secure the border from fentanyl and migration. Yes, tariffs have economic costs, but they can be used as tools too. The cost of President Biden allowing fentanyl and migrants to flood into the United States is quite high. The proposed bill has no interest in trying to quantify the impact of the Biden administration's failure. Instead, it selectively targets only the new Trump administration for trying to redress a serious public health and national security threat. Accordingly, because the bill unnecessarily expends the ITC's resources and is not balanced, I object. The PRESIDING OFFICER. The objection is heard. The Senator from Maryland.”