WASHINGTON, D.C. — U.S. Senator Peter Welch (D-Vt.), member of the Senate Finance Committee, this week welcomed Steve Wright, President and General Manager of Jay Peak Resort, to the U.S. Senate for a forum on the impact of tariffs and President Trump’s trade war on the business, manufacturing, farming, and tourism industries. In the forum, Senators highlighted how the Trump Administration’s policies are raising costs for working families and causing extreme uncertainty for businesses across America.
Senator Welch’s questions in the hearing focused on the economic and cultural harm caused by President Trump’s trade policy and anti-Canadian rhetoric.
Senator Welch asked: “I’ve been hearing about these agonizing stories when I visit up in the Northeast Kingdom and how heartbreaking it was for folks like you who are in the hospitality industry to get these calls from people who you work with and have a great deal of affection for, telling you they’re cancelling, and feel very hurt…We’re really dependent on our Canadian visitors, right?”
Mr. Wright responded: “Yeah, I mean specifically at Jay Peak, as you know, 50% of our topline revenue and 60% of our bottom-line profit is derived from Canadian business. And Canadians have a long history with Jay Peak, they don’t want to not come to Jay Peak. But a large index of the country’s been galvanized by that anti-Canadian rhetoric…The conversations that I had with these Canadian households who aren’t coming back next year—most of these Canadian guests I knew, so I had a very informal conversation with them—many had tears and were choking up over the fact that they just couldn’t, in good conscience, come to the states.”
Watch Senator Welch’s full remarks below:
In his opening remarks, Mr. Wright spoke about how a decrease in tourism from Canada is making it harder to keep staff on payrolls and plan for the future: “Recently, the longstanding relationship built on the respect and shared enjoyment of the outdoors, as well as economic incentive, has come under fire and cannot be overstated. We are forecasting a potentially catastrophic amount of trouble relating to Canada’s unwillingness to visit this summer, next winter, and for some indeterminate future.
Wright continued: “In short and as evidenced by our book of business for conferences, weddings, golf rounds, waterpark visits, and an indoor Olympic ice arena, Canadians simply are not coming. Golf groups are cancelling daily…Of the 300 Canadian teams that play in one of our 40 annual hockey tournaments, half are forecasted to cancel this year. Fiscal Year 26 winter season passes sold to Canada are off 35%, and a reduction in our workforce as a result is already underway.”
Mr. Wright shared new statistics on the impact of the trade war on Vermont’s tourism and travel economy: Data shows that hotel reservations from Canadian visitors is down around 45%; Credit card spending from Canada is down nearly 40%; border crossings have declined for five consecutive months and are now down 35%, and visits to Vermont’s tourism website , vermontvacation.com, from Canadians is down 70% since January. Mr. Wright also testified that tariffs have made equipment imports from Canada more expensive.
The forum was hosted by Senators Catherine Cortez Masto (D-Nev.) and Ben Ray Luján (D-N.M.) and attended by Senators Welch, Democratic Leader Chuck Schumer (D-N.Y.), Richard Blumenthal (D-Conn.), Elizabeth Warren (D-Mass.), Amy Klobuchar (D-Minn.), Tammy Baldwin (D-Wis.), Maria Cantwell (D-Wash.), Ron Wyden (D-Ore.), and Chris Van Hollen (D-Md.).
Senators heard testimony from Steve Wright, President and General Manager of Jay Peak Resort in Jay, Vermont; Adam Posen, President of the Peterson Institute; Thea Lee, Economist and Former Deputy Undersecretary for International Labor Affairs under President Biden; Preston Martin, CEO of Bicycle Technologies International; and Emma Jagoz, Owner of Moon Valley.
Watch a livestream of the spotlight forum here.
Senator Welch has blasted Trump’s tariffs and trade war and shared stories from constituents about how President Trump’s economic policies have impacted their businesses, farms, and communities. Senator Welch is a cosponsor of a bipartisan resolution to repeal the tariffs on Canada, a bipartisan bill to restore congressional tariff authority, a bill to restrict the Executive Branch’s authority to impose tariffs through the International Economic Emergency Powers Act, and a bill to exempt small businesses from the April 2nd global tariff Executive Order. Senator Welch also led a bipartisan resolution to end President Trump’s ruinous global tariffs.
Last month, Senator Welch joined a bipartisan delegation and traveled to Ottawa to meet with Canadian dignitaries, including Prime Minister Mark Carney, to discuss bipartisan support for a U.S.-Canada partnership and their commitment to a strong trading relationship between the United States and Canada. The Senator has hosted roundtables in Stowe, Newport, St. Albans, Manchester, and virtually to hear concerns and first-hand stories from Vermont and Canadian leaders impacted by the trade war.
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