Trade Adjustment Authority

Floor Speech

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Mr. SCHNEIDER. Mr. Speaker, President Trump's trade war is spiraling out of control and American workers and businesses are paying the price.

Back home in Illinois, already more than $3.8 billion in exports have been targeted for retaliation. I have heard from numerous working companies hurting from this misguided approach. They are struggling with new, high costs and are now less able or less likely to hire or expand.

Today, I am introducing legislation to help American businesses affected by the Trump tariffs. Trade Adjustment Assistance was created in 1962 to help U.S. workers and U.S. firms adapt to competition caused by changing trade policies. My bill would expand the Trade Adjustment Assistance for Firms to add reduced exports resulting from retaliatory tariffs as a qualifying factor for the TAA program.

I also enthusiastically support similar legislation by my Democratic colleagues being introduced this week to provide similar assistance to impacted workers and farmers.

President Trump needs to end this damaging trade war. Until he does, we need to provide relief to the businesses and workers who are adversely stuck with the consequences.

I urge my colleagues to support this legislation.

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