WASHINGTON – U.S. Senator John Boozman (R-AR) today released the following statement after the World Trade Organization (WTO) approved Canada and Mexico’s request to place more than $1 billion in retaliatory tariffs on American goods:
“Today’s retaliation is not surprising. I’ve long opposed the COOL mandate because it alienates our trading partners, increases compliance costs and offers few benefits. Unless Congress acts, American businesses will be subjected to more than $1 billion in retaliatory tariffs, and these costs will be passed on to American consumers. However, these tariffs can be avoided.
The reality is we’ve lost the battle to maintain the COOL mandate four times. Arkansas farmers, manufactures and consumers can’t afford to foot the bill for bad policy. If we don’t resolve this dispute, it will have a negative impact on our economy. We must ensure that Arkansans are not caught in the middle of a dispute over well intended, but poorly crafted policy.
It’s time to end COOL."