As the administration's tariffs go into effect, import taxes are reaching their highest levels in 100 years, according to the Yale Budget Lab think tank, as reported on NBC.
In response to the tariffs, Eric Hoplin, President and CEO of the National Association of Wholesaler-Distributors (NAW), issued the following statement:
"As new tariffs go into effect today, distributors, who already manage one of the most complex and dynamic supply chains in the global economy, are being forced to navigate even greater uncertainty.
Our industry, which represents one-third of U.S. GDP, keeps the economy running by moving essential goods like health care supplies, food, construction materials, and technology. New tariffs coupled with the uncertainty of further or higher tariffs in the coming weeks or months makes it difficult for businesses to make any long-term planning or investment. If we want the Big Beautiful Bill to fulfill its potential to drive investment, job growth, and economic strength, we must pair tax certainty with trade certainty.
We appreciate the administration’s efforts to secure new trade agreements and applaud recent progress with several key allies. However, many businesses had paused purchasing earlier this year, hoping for relief with new trade agreements. Now, with new tariffs in place and no clear timeline for further deals, those orders are returning but with higher prices and tighter supply. Distributors are required to pay tariff duties within ten days, yet often do not sell the product or receive payment until months later, creating significant cash flow challenges that hinder investment, innovation, and job growth. We urge the administration and trading partners to act swiftly to finalize outstanding trade agreements so businesses can plan ahead, invest with confidence, and help drive the next era of American prosperity.<
