Rep. Don Bacon (R-NE) expressed significant concerns regarding President Trump's tariffs, particularly about their adverse effects on Nebraska businesses. During an MSNBC interview, he emphasized that if tariffs continue without revision, many businesses might face closure. Bacon noted that rising costs could lead to American cars costing $5000 more due to reliance on globally sourced components. He further shared examples of local businesses, particularly highlighting how one Christmas lights store may fail due to dependence on imported goods. The growing uncertainty in the market has heightened fears of a recession among economists.
When I talk to car dealers here in Omaha, they say if these tariffs aren't revised, the average person is going to pay $5000 more to buy an American car, let alone a foreign made car.
I have many businesses, just like Josh is saying, they're probably gonna go out of business if this doesn't change soon.
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