U.S. trade groups urge Trump to stop planned China tariffs

U.S. trade groups urge Trump to stop planned China tariffs

The United States Chamber of Commerce and 44 other associations are urging President Donald J. Trump not to impose sweeping tariffs in response to China's trade practices, warning the action would "trigger a chain reaction of negative consequences for the USA economy".

One business source, who has discussed the issue with the administration, said that the China tariffs may be subject to a public comment period, which would delay their effective date and allow industry groups and companies to lodge objections.

They added "the Trump administration should not respond to unfair Chinese practices and policies by imposing tariffs or other measures that will harm United States companies ... and investors". "We must do right by American families, and make sure they are not the ones who will pay for China's harmful technology practices".

According to The Washington Post, senior aides had presented Trump with a United States dollars 30 billion tariff package that would apply to a range of products.

U.S. officials should "work with like-minded partners to address common concerns with China's trade and investment policies", the letter reads.

The 45 groups include some of the biggest USA industries, including the Consumer Technology Association and the National Retail Federation, whose members include large corporations including Walmart (WMT) and Apple (APPL). As you continue to investigate harmful technology and intellectual property practices, we ask that any remedy carefully consider the impact on consumer prices.

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The president recently announced plans to impose tariffs on certain steel and aluminum imports, despite opposition from some business sectors.

"Save manufacturing jobs and say no to steel tariffs", the ad says.

"That is why our board decided to make a substantial investment in launching this campaign to urge the president to steer away from tariffs that will ultimately hurt equipment manufacturers and cost American jobs", Slater said. The president has pointed to America's $375 billion trade deficit with China and accused the country of stealing intellectual property from American companies doing business there.

The Trump administration's decision on tariffs may come in the next few weeks, according to The Wall Street Journal.

An early draft of the G20 communique seen by Reuters contained that phrase and added: "We note the importance of bilateral, regional and plurilateral agreements being open, transparent, inclusive and WTO-consistent, and commit to working to ensure they complement the multilateral trade agreements".

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