WASHINGTON – The US Chamber of Commerce, a major lobbying organization in the country, has reiterated opposition against the White House toimpose additional tariffs on imports from China, as tariffs hurt American businesses, economy and consumers.
"The existing 25 percent tariffs on US$250 billion of Chinese exports are already inflicting grave harm to US consumers, farmers, ranchers and businesses," Myron Brilliant, vice president and head of international affairs at the US Chamber of Commerce, said in a statement on Friday.
Total 661 US companies and associations have signed a letter to President Donald Trump, urging his administration to abandon tariff hikes and reach a deal with China
"Proposed tariffs on an additional US$300 billion of Chinese imports would only expand the damage to these groups and the broader economy," Brilliant said.
"We urge the administration to use the upcoming G20 meeting in Osaka to return to the negotiating table, with the aim of striking a high-standard, comprehensive, enforceable agreement soon that puts an end to tariffs already in place and forestalls further disruptions to all Americans," he said.
Brilliant's statement came as the Office of the US Trade Representative said on Friday that it will hold public hearings regarding proposed tariffs on Chinese products worth approximately US$300 billion from June 17 to June 25, with more than 300 witnesses set to testify.
Total 661 US companies and associations have signed a letter to President Donald Trump, urging his administration to abandon tariff hikes and reach a deal with China.
"We know firsthand that the additional tariffs will have a significant, negative and long-term impact on American businesses, farmers, families and the US economy," the groups said in a letter released Thursday by Tariffs Hurt the Heartland, a lobbying campaign against tariffs.
Combined with the impact of previously implemented tariffs and retaliation, the new tariffs on additional Chinese imports worth US$300 billion, if imposed, would result in the loss of more than 2 million US jobs, add more than US$2,000 in costs for an average American family of four, according to the letter.
"An escalated trade war is not in the country's best interest, and both sides will lose," the letter said.
Copyright 1995 - 2019. All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily. Without written authorization from China Daily, such content shall not be republished or used in any form.
HONG KONG NEWS