(The Center Square) — A Democratic Maine congressman has filed a bill backing former President Donald Trump's signature economic proposal to set across-the-board 10% tariffs on all imported goods.
Rep. Jared Golden said the Balance Unequal International Labor and Trade for the United States of America, or BUILT Act, would assess a 10% tariff on all goods and services imported into the United States.
The duty would increase or decrease annually by 5%, depending on whether America maintains a trade deficit or surplus, respectively, he said.
"Decades of globalization have transformed our country from an industrial superpower to one that relies on other countries for basic goods," he said in a statement. "To secure our future in an increasingly competitive world, we must move toward self-sufficiency, industrial strength and the homegrown innovation that goes hand-in-hand with a strong, productive economy. These tariffs put us on a path to that future.”
Golden said tariffs have "been embraced by presidents of both parties," noting tariffs on Chinese imports set by Trump during his presidency were kept on the books and, in some cases, expanded under Democratic President Joe Biden.
"Recent history is bipartisan recognition that the era of free-wheeling free-trade that cost Maine so much must come to an end, as a matter of both national security and economic interest," Golden said. "We must act to reposition ourselves in the world economy, to a place of strength and self-sufficiency."
The plan mirrors a proposal floated on the campaign trail by Trump, who has pledged to slash corporate tax rates for companies making products in the U.S. while raising tariffs on products manufactured in foreign countries. He has proposed a 60% tariff on goods from China and up to 20% on everything else the country imports.
“Tariffs are the greatest thing ever invented,’’ Trump said last month in Flint, Michigan, where he pledged to bring back auto manufacturing jobs to the state.
Golden's proposal drew praise from Michael Stumo, CEO of Coalition for a Prosperous America, who called it "a win for revenue, growth, and the revitalization of our domestic industries." He said China and other countries are displacing American workers and manufacturers, "leading to massive trade deficits that drain U.S. demand for American-made products."
"We’ve been trying to compensate for these deficits with fiscal spending that only increases our unsustainable debt," he said in a statement. "By addressing the trade deficit, we can not only strengthen our domestic industries but also dramatically reduce the nation’s debt burden. Tariffs, like the ones proposed in this bill, are a crucial tool to ensure that our economy works for American workers and producers, not foreign adversaries."
To be sure, Trump's plan for a 10% tariff on all imports has been panned by Democrats and Republicans, as well as business groups. The Wall Street Journal's editorial board has criticized Trump's threats to hit U.S. companies with tariffs, including John Deere & Co., for shifting some of its U.S.-based production to Mexico.
Vice President Kamala Harris, locked in a close race for the White House, has called it the "Trump Sales Tax" and argues that companies will pass along the costs to American consumers.
As president, Trump relied heavily on tariffs and targeted imported solar panels, steel, aluminum and other products made in China, Mexico and other countries.
Golden, who represents a Maine congressional district that Trump won in both 2016 and 2020, is in a tight reelection race, with recent polls showing his Republican opponent, Austin Theriault, with a slight lead.
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