East Idaho Times

U.S. Senate Finance Committee Chairman Mike Crapo addressed the President’s 2025 Trade Policy Agenda at a recent hearing. His remarks centered on the strategic implementation of tariffs and their role in advancing U.S. interests, particularly in market access and negotiating challenges with nations like France and China.

Crapo noted, "Members and the public have questions and concerns about the recent tariff actions. That’s ok. We should think about tariff impacts and ask questions." He emphasized the need to consider how tariff policy can minimize unnecessary costs on American families while recognizing the difficulty in assessing the costs of denied market access opportunities.

According to Crapo, tariffs have previously halted discriminatory digital services taxes imposed by France and forced China to address systemic challenges. He believes that "every enforcement action...ultimately relies on the threat of tariffs to secure objectives." He advocates for a robust trade policy, previously halted during the Biden Administration, and envisions an approach that restores confidence in free markets.

Crapo criticized the previous administration's turn towards industrial policy and its perceived rejection of free markets. He stated, "We can restore faith in free markets by making it easier than ever to do business in America." He further criticized the idea that democratic governments prioritize the "right to regulate" over securing rights for citizens.

The latest National Trade Estimate by the Trump Administration was noted positively, with Crapo contrasting it against the previous year’s action under Biden's Administration. He expressed optimism about renewed international trade negotiations, stating, "Senior Administration officials say that a number of countries are 'coming to the table' to engage with USTR."

Crapo concluded his statement by emphasizing the importance of enforcing trade rights to ensure that American goods and services, which he described as "innovative, high quality, and globally competitive," can thrive in the global market.