NJBIA President and CEO Michele Siekerka said New Jersey businesses and policymakers should not stand idle as President Donald Trump’s new tariffs continue to decimate the stock market and 401(k)s.
Joining NJ101.5 morning host Eric Scott on Monday morning, Siekerka said policymakers have to “send a signal to companies to reinvest in America right now” with “a clear strategic approach to trade” that includes extending the federal Tax Cuts and Jobs Acts from 2017.
“When these tax reforms were signed in 2017, particularly for manufacturing, it was like rocket fuel,” Siekerka told Scott. “We saw the immediate impact, and we saw a positive impact. So we need to move forward. And I think what we can do for those that are ready to invest.”
Siekerka also called for regulatory reform under Trump to get started “posthaste” to show companies “they’re welcome here and we want them here, federally and here in New Jersey.”
“With our own budget coming up in this cycle, we can help. We can send a signal. Come back here to New Jersey, and let’s help you to manufacture here and make a difference.”
Siekerka also said there may be opportunities for manufacturers to try and gain waiver exemptions for damaging tariffs if they’re investing and expanding in the United States.
“Every challenge creates an opportunity,” Siekerka said. “We need to go looking for the opportunity right now and not keep our head down just on the challenge.
“If we just keep our head down, we’re not going to overcome this. So, let’s start looking at other things that we can do.”
To listen to the full interview, click here and scroll to the 1-hour, 45-minute mark.
