June 12, 2018 
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The HB Business News runs every Tuesday in the Chamber Preview and is posted to the Chamber's Facebook and Twitter pages. All videos are produced by Matt Liffreing, Marketworks Video.
Investor Events

June 12
5 - 9 p.m.

June 12-15

June 16
10 a.m. - 12 p.m.

June 17
1 - 5 p.m.
Chamber Events

June 13
Longboards on Main Street
3:30 - 4:30 p.m.

June 20
Pacific City Escrow
@ 16152 Beach Blvd., Ste 145
4 - 5 p.m.

June 27
featuring State Assembly Candidates
@ Stonefire Grill
11:30 a.m. - 1 p.m.
A number of vital trade issues are raising concerns for key sectors of the American economy. A growing list of tariffs proposed or imposed by our government, as well as the continued uncertainty over the future of NAFTA, threatens to undermine the economic progress we have made. And rather than removing barriers and ending unfair practices against Americans, the Trump administration’s current approach—and the obvious retaliation that will occur in response—poses a serious risk of raising barriers and reducing Americans’ access to vital global markets.

Specifically, the Trump administration has imposed tariffs on $50 billion in imports from China, and tariffs on steel and aluminum from most countries. More recently, the administration raised the prospect that they will soon impose tariffs on automobiles and auto parts. China, the European Union, Canada, and Mexico have already indicated their intention to impose retaliatory tariffs. If these tariffs are fully implemented, independent studies have projected that hundreds of thousands of American jobs could be in jeopardy.

With respect to the ongoing NAFTA negotiations, the trade ministers have not met as a group since May 11, and time appears to have run out for negotiators to reach a deal in the near term. At this point, there appears to be no clear path forward for negotiators, and the most likely outcome is that negotiations will be put on hold until 2019. 

On each of these issues, the Chamber has privately and publicly expressed our concerns to the administration and to Congress about the economic damage that an escalating series of back and forth tariffs would have on our own country. We are educating policymakers and the public and working with many organizational partners and with state and local chambers to press our arguments. For more information on the current situation, please see the U.S. Chamber’s recent blog post .
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THOMAS J. DONOHUE | U.S. CHAMBER OF COMMERCE
Many Americans have likely noticed a spike in gas prices just as we enter the summer driving season, which is fairly typical due to the changeover from winter to summer crude oil. While higher prices are always a headache and a burden for families, the situation has yet to become as dire as many of the price spikes from decades past—and it likely never will. The days of the world’s biggest oil producers having the U.S. over a barrel, literally, are unlikely to return, thanks in large part to a renaissance in U.S. energy production that has been bolstered by the Trump administration’s emphasis on pro-growth energy policies.
Ten years ago, in June 2008, you and I were paying just over $4 per gallon for gasoline. Today, even with the Organization of the Petroleum Exporting Countries, or OPEC, attempting to tamp down much of the global supply to push prices higher, American consumers are weathering the storm with gasoline hovering around $3 a gallon. This is far better than many European countries, where gas prices are well over $6 and rising. READ MORE
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