Video Replay: Impact of the Trump Administrations First 100 Days

With the dust still settling from President Trump’s tariff announcement yesterday, Neil Bradley, senior vice president and chief policy officer at the U.S. Chamber of Commerce, provided N.J. Chamber of Commerce members with an exclusive briefing this morning on the new tariffs and other economic policies coming out of Washington.

“I’m not going to sugarcoat it,” Bradley said. “The tariffs are more aggressive than I anticipated – and more aggressive than the markets anticipated.”

The tariffs, which apply to goods imported from nearly every country, range from 10% to 49%. The rates vary based on the United States' trade deficit with each nation, according to the Trump administration.

President Trump’s goal is to boost U.S. manufacturing and reduce reliance on foreign goods, but the approach comes with costs, Bradley said. The success of the policy depends on how it's measured. “Do we focus on manufacturing output or jobs?” he asked. “If the goal is employment, it will likely lead to higher prices for manufactured goods.” Further, he added, “We have to recognize that we’ll never produce everything domestically.”

Some of the tariffs caught businesses off guard, including those on coffee – a product the U.S. does not produce. “That’s just a tax on coffee,” Bradley said. “Since we’ll never meet domestic demand with domestic production, a tariff on coffee is simply a price increase.”

Certain industries, including lumber, pharmaceuticals, semiconductors, and copper, have been granted tariff carveouts, Bradley said. “The administration has announced plans to implement product-specific tariffs for these sectors,” he added.

Meanwhile, previously announced tariffs are now taking effect, including a 25% tariff on automobiles and car parts. “This will likely cause supply chain disruptions similar to what we experienced during COVID,” Bradley warned.There is good news on tax and regulatory policy, he noted. The Senate appears poised to extend and make permanent federal business tax cuts set to soon expire. Additionally, regulatory policies are becoming more predictable, and new energy policies could help lower prices over time.

“In Washington,” Bradley concluded, “the news is never all good or all bad – it’s always a mix, and today is no different.”

Watch the April 3 webinar with Neil Bradley here

News Releases

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Media Contacts

Scott Goldstein
New Jersey Chamber of Commerce
scott@njchamber.com
609-989-7888 x113
Cell: 609-220-0836


Kevin Friedlander
New Jersey Chamber of Commerce
kevin.friedlander@njchamber.com
609-789-5263


2025 NJ Chamber Events

Apr 17
Networking
Member Mixer
Where: Control Point Associates, Warren
When: 5:30 p.m. - 8 p.m.
Free to members
Apr 22
Business Roundtable Series
Lunch with Speaker Nicholas Scutari
Where: Holiday Inn Clark, 36 Valley Rd, Clark, NJ
When:  Noon - 2 p.m.
$55 member | $75 non member
Apr 23
Young Professionals Event
Networking & Baseball: Brooklyn Cyclones at Jersey Shore BlueClaws
Where: ShoreTown Ballpark, Lakewood
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Free to participate. Open to all young professionals.
May 1
NJM Small Business Series
Marketing on a Shoestring Budget in 2025
Where: Virtual Event
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May 19
14th Annual
NJ Chamber Challenge Cup Golf Tournament
Where: Bedens Brook Club, Skillman
Shotgun Start: noon
May 21
Business Roundtable Series
Breakfast with Speaker Craig Coughlin
Where: National Conference Center, East Windsor
When: 8:15 a.m. - 10:15 a.m.
$55 member | $75 non member
Jun 12
28th Annual
NJ Chamber Open House and Reception
Where: New Jersey State Museum, Trenton
When: 4 p.m. - 7 p.m.
Jul 16
Young Professionals Event
Networking Mixer
Where: CGI, New Brunswick
When:  5:30 p.m. - 8 p.m.
Free to participate. Open to all young professionals.
More information coming soon
Sep 18
Networking
Women of Inspiration Awards Reception
Where: National Conference Center, E. Windsor
When: 5 p.m. - 8:30 p.m.
More information coming soon
Sep 25
Networking
Member Networking Breakfast
Where: New Jersey Audubon, Bernardsville
When: 9 a.m. - 10:30 a.m.
Free to members
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Oct 22
NJ Chamber Legislative & Business Awards Reception
Where: EisnerAmper, Iselin
When: 5 p.m. - 8 p.m.
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Nov 6
DE&I Trailblazer Awards Reception
Co-Hosted by African American Chamber of NJ and NJ Chamber
Where: Pines Manor, Edison
When: 5:30 p.m. - 8 p.m.
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Networking
Annual Member Holiday Party
Where: Calandra's Italian Village, Caldwell
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Mar 24-25
ReNew Jersey Business Summit & Expo 2026
Where: Harrah's Atlantic City
When: Full day event
Note: The Walk to Washington will return in 2027