CEO DATELINE - Associations seek tariff elimination in U.S.-China negotiations
CEO DATELINE - Associations seek tariff elimination in U.S.-China negotiations
- April 23, 2019 |
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Walt Williams
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A coalition of 151 associations is urging Trump administration officials to drop tariffs against China in any trade deals reached with the country.
President Donald Trump has imposed tariffs on billions of dollars of Chinese goods in retaliation for what he characterized as unfair business practices, such as the country's insistence that U.S. businesses turn over their technologies before gaining access to its markets. U.S. and Chinese officials are currently engaged in trade talks that could lead to the lowering of some trade barriers, and news reports indicate both sides are optimistic that an agreement will be reached in the coming weeks.
In an April 22 open letter to Trump, the coalition Americans for Free Trade said they were encouraged to hear progress was taking place. However, they emphasized that any agreement must include certain provisions, including the full elimination of the tariffs.
"American businesses and farmers bearing the burden of the trade war have been told repeatedly by your administration that they must endure ‘short-term pain for long-term gain,'" the coalition said in the letter. "They were promised that tariffs were merely a means to an end, and that all this damage would be worth it. A deal that fails to lift tariffs would represent a broken promise to these hardworking Americans."
The coalition said any agreement must address China's unfair trading practices and avoid any enforcement mechanisms that trigger future tariffs. In addition, it wanted clarification why certain products were exempted from tariffs and demanded the federal government undertake an economic assessment of the costs of the tariffs.
"The economic harm we predicted has come to pass as American businesses and farmers across the country have suffered the consequences from the onslaught of tariffs," the coalition said. "It will only worsen if your Administration chooses to retain or add punitive tariffs against China or other countries going forward." http://bit.ly/2Drn85d
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