Ed Markey: “today, I rise to advocate to my colleagues in the Senate for my Small Business Liberation Act, and I do so with Leader…”

“today, I rise to advocate to my colleagues in the Senate for my Small Business Liberation Act, and I do so with Leader Schumer and Senator Hirono, who have each already spoken on this very important issue. Here is what the bill would do: The bill would give relief from President Trump's disastrous, destructive, small business-killing tariffs that have been turning Main Street into 'Pain Street' all over our country for the last 7 weeks. I would also provide with my bill certainty to the constant whiplash and chaos that is President Trump's tariff policies by exempting small businesses from the baseline 10-percent tariffs and the tariffs that have been on a 90-day pause since April 9. So let me just explain what I am talking about. On April 2, President Trump imposed a 10-percent tariff on pretty much the whole world. In other words, a 10-percent tax on anything coming into the country--10 percent. He also imposed an additional--called reciprocal tariff--on April 2 as well. And those tariffs, for example, were an additional 20 percent on the EU or an additional--we will just say--32 percent on Fiji, for whatever reason. So that was an incredible additional tax on top of the 10-percent tax, which he imposed on the same day.”