WASHINGTON, D.C. – U.S. Senator Peter Welch (D-Vt.) today skewered the Trump Administration’s misguided trade policy, which has slowed economic growth, interrupted supply chains, and threatened access to markets for Vermont businesses, farms, and manufacturers. 

“We’re getting hammered. Dairy is our big product, but we have a lot of vegetable growers. Our farmers get a lot of fertilizer from Canada and it’s going to go up like 25%. And I don’t care what the politics are of the farmer, whether they voted for Trump or voted for Harris—that’s a real hit, right?” asked Senator Welch. “Some of the issues, or the justification for tariffs, is to get the supply chain back here and I have some appreciation for that. But it’s not like, ‘the more we grow here, the better,’ right? We’re already doing that. We get higher costs, and that will make the markets more vulnerable. More farms will go out of business.”  

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The Senate Finance Committee’s hearing featured testimony from representatives of the American Soybean Association, the Center for Strategic International Studies, the Semiconductor Industry Association, and AdvaMed. 

This week, President Trump announced a new trade agreement with China that will temporarily reduce tariffs from 145% to 30%, while retaining several other newly imposed tariff categories. Even with this temporary reprieve, Americans still face an overall effective tariff rate of 17.8% —the highest since 1934.    

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 has hosted roundtables in Stowe, Newport, St. Albans, and virtually, where he heard concerns and first-hand stories from Vermont and Canadian business leaders impacted by the trade war. 

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