US trade associations urge Trump not to impose tariffs on China

US trade associations urge Trump not to impose tariffs on China

A coalition of industry groups from across the U.S. economy have written to President Donald Trump urging him not to slap new tariffs on China.

Forty-five USA trade associations representing some of the largest companies in the country are urging President Donald Trump not to impose tariffs on China, warning it would be "particularly harmful" to the US economy and consumers.

"The imposition of sweeping tariffs would trigger a chain reaction of negative consequences for the US economy, provoking retaliation; stifling USA agriculture, goods, and services exports; and raising costs for businesses and consumers", reads the letter, dated Sunday.

The Trump administration's decision on tariffs may come in the next few weeks, according to The Wall Street Journal.

They added "the Trump administration should not respond to unfair Chinese practices and policies by imposing tariffs or other measures that will harm USA companies ... and investors".

After placing tariffs on imported steel and aluminum, Mr. Trump is reportedly considering tariffs on up to $60 billion of Chinese goods, covering electronics, apparel and footwear and some transportation equipment.

Читайте также: Details emerge about President Trump's plan to combat opioid epidemic

The business groups said while they had serious concerns about China's approach to trade, unilateral tariffs by the USA would only separate the country from allies, and encourage them to replace the United States business presence in China when Beijing retaliates.

The Trump administration is said to be preparing tariffs against Chinese IT, telecoms and consumer products in an attempt to force changes in Beijing's intellectual property and investment practices.

Deng said a day earlier that the delegation's visit is to convey domestic steel and aluminum industry concern over the new tariffs, highlight Taiwan's role as an important security partner of the US and explain to the USA that Taiwan's steel and aluminum makers do not pose a threat to their USA counterparts.

The US trade deficit with China ran to a record $375 billion a year ago - but US exports to the country were also at a record.

Chinese officials have warned they are likely to retaliate in kind.

The US Commerce Department said it will begin accepting requests from today for product exclusions from President Donald Trump's new steel and aluminium import tariffs, but it could take up to 90 days for the agency to make determinations.

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