Schneider Introduces Legislation to Help Small Businesses Hurt by Trump Trade War
Today, Congressman Brad Schneider (IL-10) introduced new legislation to help American businesses damaged by retaliatory tariffs unleashed by President Trump’s trade war.
H.R. 6396 would expand Trade Adjustment Assistance for Firms (TAAF) to include reduced exports resulting from retaliatory tariffs as a qualifying factor for the program. Created in 1962 and administered by the Department of Commerce, TAAF helps firms develop and implement business recovery plans to adapt to competition caused by changing trade policies. The program does not currently provide aid to those experiencing reduced exports as a result of retaliatory tariffs.
“President Trump’s trade war is spiraling out of control, and our workers and small businesses are paying the price,” said Schneider. “Congress can provide relief from the President’s misguided policies, and expanding Trade Adjustment Assistance for Firms is a commonsense step to help the local businesses affected by retaliatory tariffs adapt. The Administration needs to end this self-defeating trade war which is making it harder for America to compete.”
According to a recent analysis by the U.S. Chamber of Commerce, $3.8 billion in Illinois exports have been targeted by retaliatory tariffs from China, Canada, Mexico, and the European Union.
Schneider also supports legislation introduced today by Congresswoman Suzan DelBene (WA-1) to similarly expand the Trade Adjustment Assistance for Workers program in the Department of Labor. Under this bill, workers displaced by retaliatory tariffs would be eligible for training, job-searching assistance and benefits.