U.S. companies' message to Trump: Don't expand China tariffs

Clay Curtis
June 18, 2019

The US is planning another tidal wave of tariffs on Chinese imports that represent a worst-case scenario for markets and major industries on both sides of the Pacific.

A wide range of US companies told a hearing in Washington on Monday that they have few alternatives other than China for producing clothing, electronics and other consumer goods as the Trump administration prepares new tariffs on remaining U.S.

Large public companies, many of whose shares sank in May on concern over the impact of tariffs on growth, also warned in broad terms of the trouble an outright trade war would cause.

According to an estimate by Trade Partnership Worldwide LLC., the USA imposition of 25 percent levies on an additional $300 billion of Chinese imports would result in the loss of more than 2 million American jobs.

Ms Lu Yu, vice-president of the China Chamber of Commerce of Food Stuffs, Native Produce and Animal Byproducts, said putting tariffs on Chinese tea made no sense.

"Currently there's no country manufacturing metal baby gates outside of China", Flannery said.

A wide range of companies apprised an inquest in Washington that they have only a handful of options other than China for making clothes, electronics, and additional consumer products as the Trump Administration devises 25 percent tariffs on abiding US-China trade.

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So far, Mr Trump has imposed tariffs on more than US$250 billion in Chinese goods, but this has spared most consumer items from major price increases.

Deriving from other countries will escalate the costs, in the majority of cases added to 25 percent tariffs; some observers apprised a jury of USA trade officials from USTR, the Commerce Department and alternative federal agencies.

And the specter of such a massive hit to consumers' wallets holds political peril for Trump.

"We're going to lower the quality of footwear, raise prices and accomplish nothing by moving it around to other countries", Schneider said. "A Wall Street Journal analysis of federal import data gives weight to the claims".

The tariff hearings are underway amid a severe deterioration of U.S.

Child protection products like vehicle seats were reprieved from Trump's former tariffs on $200 billion worth of Chinese goods levied on September 2018.

Trump said he would decide whether to trigger the next round of tariffs after talks with Chinese President Xi Jinping at the G20 summit in Japan later this month. Mike Branson, president of Rheem Manufacturing Co's air conditioning division, asked Trump administration officials to close a loophole that was allowing Chinese firms to skirt air conditioner tariffs by shipping condenser and air handler units separately.

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