CANADA Act would exempt U.S.-owned small businesses from tariffs imposed on Canada
WASHINGTON, D.C. – Ahead of the August 1st tariff deadline, U.S. Senator Peter Welch (D-Vt.), a member of the Senate Finance Committee, will push for a vote on his bipartisan Creating Access to Necessary American-Canadian Duty Adjustments (CANADA) Act, legislation to exempt United States-owned small businesses from tariffs imposed on Canada.
The CANADA Act is led by Senator Welch and cosponsored by Senate Democratic Leader Chuck Schumer (D-N.Y.) and Senators Jeanne Shaheen (D-N.H.), Lisa Murkowski (R-Alaska), Tim Kaine (D-Va.), Susan Collins (R-Maine), Ed Markey (D-Mass.), and Ron Wyden (D-Ore.). The CANADA Act is supported by Main Street Alliance and Small Business Majority.
“These unnecessary tariffs on Canada have caused chaos and confusion for small businesses in Vermont and across America. The trade war threatens to tank our economy, especially if Trump doesn’t chicken out and back off his August 1st deadline,” said Senator Welch ahead of his remarks tonight. “The bipartisan CANADA Act should pass quickly and without objection from my colleagues across the aisle—this is a vote to support small businesses in their state, who can’t afford President Trump’s trade war with one of America’s closest allies and a top trading partner.”
In 2024 alone, trade with Canada accounted for 35% of Vermont’s exports, 67% of its imports, and 56% of its total trade. One in four businesses in Vermont relies on trade with Canada. Vermont buys more goods from Canada than the next nine largest foreign markets combined. In 2023, Vermont exported $150 million just in food and agricultural products to Canada.
Vermont boasts nearly 82,000 small businesses, which represent 99% of all businesses in the state, and employ over 62% of Vermont’s overall workforce—higher than the national average. Small businesses in Vermont also employ a diverse workforce, with 43.8% of small businesses in the state owned by women and 6% owned by veterans.
What: Senator Welch will speak on the Senate Floor tonight at 6:00 p.m. ET and request unanimous consent to pass the CANADA Act.
When: 6:00 p.m. ET
Live via: C-SPAN
Questions: Media can direct questions to Aaron White: Aaron_White@welch.senate.gov; 202-960-0677
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