Large retailers urge Trump against China tariffs

20 March, 2018, 04:24 | Author: Chad Mckenzie
  • US trade groups warn against higher tariffs

The domestic steel industry said that with the USA representing Taiwan's largest steel export market, accounting for 13 percent of the country's steel exports, the imposition of the tariffs on steel imports from Taiwan is expected to have a significant impact on the industry, and it expressed hope that the government will seek the most favorable conditions for the industry to reduce the impact.

The letter, sent by RILA and signed by a wide array of popular and well-known, leading United States retailers clearly shows the lack of support from the group of Trump's proposed tariffs on China imports into the country.

The Trump administration has already imposed tariffs on steel and aluminum imports from most of the world, aimed primarily at curbing the excess production coming from China.

In a letter sent to Trump on Sunday said potential tariffs on China would raise prices on consumer goods and drive down financial markets. The coalition includes groups representing retailers and makers of everything from toys to wine, while the council represents companies including Amazon, Alphabet Inc.'s Google, Facebook Inc. and Microsoft Corp.

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"We urge the administration not to impose tariffs and to work with the business community to find an effective, but measured, solution to China's protectionist trade policies and practices that protects American jobs and competitiveness", the groups wrote.

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

Officials will consider whether the requested exemptions are for goods manufactured in the United States in sufficient quantity and quality before deciding on any tariff exemption, the department said.

U.S. manufacturers would face more expensive product components and disrupted supply chains, affecting jobs, the letter said. "Simply put, tariffs are damaging taxes on American consumers".

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Forty-five USA trade associations, representing retail, technology, agriculture and other consumer-product industries, on Sunday also urged the Trump administration not to move forward its tariff plan on Chinese imports, as it would hurt US consumers and companies.

The 232 national-security investigation into steel and aluminum produced an "odd result" because China "isn't that upset" but some of America's closest military allies are, Fox said at an event hosted by the BritishAmerican Business group and Thomson Reuters in NY on Friday.

"I'm glad they think it's a big problem, because we've been saying this for years", Robert Atkinson, president of the ITIF, said of USTR's focus on China's alleged disregard for U.S. IP.

USTR has argued that China uses a range of practices to force companies to transfer IP, and Chinese entities engage in widespread theft of USA trade secrets, as it seeks to become a leader in advanced manufacturing and artificial intelligence.

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