U.S. industry groups denounce mounting tariffs on Chinese imports
15, (Xinhua/GNA) - Several U.S. groups representing a variety of industries
have denounced Washington's recent move to increase tariffs on Chinese imports.
administration of President Donald Trump increased the additional tariffs on
200 billion U.S. dollars' worth of Chinese goods from 10 percent to 25 percent
on Friday, and has threatened to raise tariffs on more Chinese imports.
The new tariff
measures are "catastrophic for the U.S. economy," said the American
Apparel and Footwear Association in a statement released Monday, adding that it
is "severely disappointed" by the latest tariff threat, which covers
products "including clothing, shoes, and other textiles."
that a U.S. family of four would be charged additional 500 dollars per year to
cover these tariffs on clothing, shoes, travel goods, and related items.
"This is a
self-inflicted wound that will be catastrophic for the nation's economy,"
said Rick Helfenbein, president and CEO of the association.
tightening the noose and pulling more consumer items into the trade war, the
President has shown that he is not concerned with raising taxes on American
families, or threatening millions of American jobs that are dependent on global
value chains," he added.
the Information Technology Industry Council (ITI), a Washington-based trade
association representing companies from the information and communications
technology industry, additional tariffs are counterproductive.
tariffs in force have already hurt consumers, rattled supply chains for U.S.
manufacturers and businesses, and created uncertainty across economies,"
said Naomi Wilson, ITI's senior director of policy for Asia.
tariffs threaten to needlessly escalate this conflict and diminish the
prospects for addressing longstanding trade issues with China," Wilson
China-U.S. trade tensions drag on, U.S. farmers have become increasingly
impatient, especially those that grow soybeans - one of the
major U.S. export products to China.
soybean farmers remain frustrated by the lack of progress between the United
States and China in resolving the trade war, which continues to immediately
threaten soy prices and, if not resolved, farmers' ability to stay in
business," the American Soybean Association (ASA) said in a statement.
The ASA has
consistently opposed using unilateral tariffs to address U.S. trade deficits
with China and other countries, said the statement.
ASA supports the negotiation of trade agreements and other measures that can
increase U.S. agricultural exports, including soybeans."
growers, the fact that no deal was reached yet after 11 rounds of consultation
with China on trade disputes means that "we're losing," said ASA
President Davie Stephens, who is also a soy grower from Clinton, Kentucky.
He said it took
U.S. soybean farmers over 40 years to build the market in China, but now the
Chinese market "will become increasingly difficult to recover" as the
trade conflict continues.
been understanding during this negotiation process, but we cannot withstand
another year in which our most important foreign market continues to slip
away," said John Heisdorffer, ASA Chairman and soy grower from Keota,
Technology Association said tech products account for more than half of the 300
billion dollars' worth of products that are now subject to the administration's
new tariff threat.
immense round of tariffs is exponentially worse for our country," it said.
"China is one of the top export markets for American technology - and its
retaliatory tariffs will choke U.S. job creation and global sales for American
manufacturers and innovators."
taxes paid by Americans, not China, said the association.
tariffs in this questionably legal fashion hurts American families, workers and
Retail Federation said, "Slapping tariffs on everything U.S. companies
import from China -- goods that support U.S. manufacturing and provide
consumers with affordable products - will jeopardize
American jobs and increase costs for consumers."
cited an estimate by the Tariffs Hurt the Heartland campaign as saying that
imposing tariffs of 25 percent on all remaining imports from China, combined
with the impact of retaliation, would jeopardize more than 2 million American
jobs, cost the average U.S. family 2,300 dollars each year and reduce the value
of U.S. GDP by 1 percent.
In response to
the U.S. move to increase additional tariffs on 200 billion dollars' worth of
Chinese goods, China on Monday announced that it will raise additional tariffs
on a range of U.S. imports from June 1.
doesn't want a trade war, but we are not afraid of fighting one," Chinese
Foreign Ministry spokesperson Geng Shuang said in Beijing on Tuesday. "If
someone brings the war to our doorstep, we will fight to the end."
Source: GNA Story (https://ghananewsagency.org/world/u-s-industry-groups-denounce-mounting-tariffs-on-chinese-imports-149828)
Published: 2019-05-15 14:54:37
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