Peter Welch: “I want to speak about the reckless tariffs that the Trump administration, Donald Trump, is inflicting on the American…”

“I want to speak about the reckless tariffs that the Trump administration, Donald Trump, is inflicting on the American consumer, the American worker, American businesses--especially with respect to Canada. Canada is Vermont's largest trading partner. We are not alone. Thirty-four States count Canada as its largest trading partner. We regard Canada as an independent friend, not as a prospective 51st State. And the reason we have that view toward Canada is because of the incredibly constructive and positive relationships we have had with that wonderful country for years. But with respect to these tariffs, last year, trade with Canada accounted for 35 percent of Vermont exports and 67 percent of our imports and 56 percent of our total trade. One in four businesses in Vermont relies on trade with Canada. Vermont's economy is almost entirely made up of small businesses. They operate on the tightest of margins. Ninety-nine percent of Vermont's businesses, 76,878, are considered small. They support 60 percent of Vermont employees, that is 156,000, and these businesses cannot--they cannot--afford to absorb a 25-percent hike on imports from our largest trading partner. Take maple syrup, for example. Vermont produces 51 percent of the maple syrup consumed in the United States. And by the way, these are small farmers or small land owners. For farmers, it supplements their income in a very difficult margin business when they are having a dairy operation as well.…”