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April 8, 2025
Chairman Crapo, Ranking Member Wyden, and Members of the Committee, thank for you taking
the time today for this hearing.
Last Wednesday, President Trump declared a national emergency in response to the large and
persistent trade deficit that has built up in recent years. This deficit is driven in part by non-
reciprocal tariffs, trading barriers, and other economic policies pursued by our foreign trading
partners. President Trump imposed tariffs to address this emergency. These measures are aimed
squarely at achieving reciprocity and reducing our massive trade deficit.
This national emergency declaration and tariff action is the most significant change in U.S. trade
policy since we allowed China to join the World Trade Organization. The consequences of the
disastrous decision to give China permanent normal trade relations, as well as earlier decisions to
provide expansive, non-reciprocal market access to other countries, have reverberated through our
economy and society. Although certain sectors and companies may have benefitted from aspects
of U.S. trade policy, many have had the opposite experience. The American working class in
particular has suffered concentrated losses from the “China Shock,” and other adverse effects of
the conditions giving rise to our massive trade deficit.