Opioid Quota Reform Act

Mr. President, when these ill-conceived tariffs were announced last week, I said I would introduce legislation that would immediately nullify this very unfortunate exercise in protectionism before it could wreak havoc on our economy.

If implemented, these tariffs will do just what tariffs have always done. They will lead to job losses and will stymie economic growth. What is worse, the President's attempt at flexibility in the form of poorly defined exceptions only serves to harm the economy further by creating uncertainty. Tariffs are bad enough on their own; tariffs married with uncertainty are even worse.

Can you imagine the President saying one day, ``Well, I think that Australia is moving in ways that we think are good in this area or that, so I am going to lessen the tariffs that we impose on steel and aluminum for Australia''? The next day it is Brazil. ``If it does this or that that is unrelated to these tariffs, I might lift tariffs or lessen the burden of tariffs on that country.'' Yet, a week later, if Brazil makes another move, the President might seek to reimpose or to make the burden heavier. That simply doesn't work if you are trying to achieve economic growth and if you are trying to convince countries to enter into trade partnerships with you. Particularly when you are dealing with our allies, that is no way to treat your allies.

I understand free trade is sometimes a challenge. I understand that it is a challenge on the campaign trail, certainly. It is often easier to point to a shuttered factory and blame trade or immigration or some other convenient scapegoat other than what is usually the case-- modernization or mechanization or something that has meant that we have increased productivity or simply the best allocation capital in order to facilitate trade.

We have to aggressively negotiate both bilateral and multilateral trade deals if we are to catch up. If we fail to do this and continue to withdraw from the global marketplace, we are going to be left far behind. We saw this with regard to the Trans-Pacific Partnership. We pulled out of those negotiations, and the other 11 countries involved simply went on their own and left us behind. That has meant, in particular, countries in Southeast Asia, which would like to be a part of our trade orbit, have had no choice but to be more reliant on China. That doesn't serve our interests at all.

We have to remember we represent just 20 percent of the world's economic output. We represent just 5 percent of the world's population or just less than that. If we don't trade, we don't grow. You can be pro-growth or you can be pro-tariff, but you can't be both.

Those who have reservations about these tariffs ought to support this legislation that I am introducing today to

nullify the tariffs. Those who have expressed admiration for free trade or supply-side economics ought to support this bill as well. Those who are happy with the economic growth that we have recently achieved and are interested in seeing it continue ought to support this bill. We now have a better climate for economic growth on both the regulatory side and the tax side. If we enter a trade war, we risk reversing those gains we have made.

We in Congress cannot be complicit as this administration courts economic disaster in this fashion. I urge my colleagues to join me in exercising our constitutional oversight and to invalidate these irresponsible tariffs.

Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.

Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.