Dozens of United States business groups warn Trump vs imposing tariffs on China

Dozens of United States business groups warn Trump vs imposing tariffs on China

"Tariffs on electronics, apparel, and other consumer products would increase prices for US consumers and businesses, while doing little to address the fundamental challenges posed by unfair and discriminatory Chinese trade practices", they said in the letter.

"We support holding our trading partners accountable and using targeted trade remedies against intellectual property theft, illegal dumping or subsidies, and other proven trade violations", the letter states.

The letter asked the administration to work with companies to find a solution. "Were this investigation to result in a broadly applied tariff remedy on imports from China, it would hurt American households with higher prices and exacerbate a USA tariff system that is already stacked against working families", the letter goes on.

Peter Navarro, a senior White House advisor on trade, said Thursday that the president would soon consider fresh punitive measures against Beijing over its "theft" of United States intellectual property. "We must do right by American families while also addressing harmful technology practices".

The delegation, comprising economic and trade officials, will seek negotiations with US foreign trade agencies during its one-week visit on tariffs to be implemented on steel and aluminum imports into the USA, in a bid to protect the interests of Taiwanese exporters, Minister of Economic Affairs Shen Jong-chin (沈榮津) said that day.

"This is not American industries crying wolf", she said in a statement.

Deng said a day earlier that the delegation's visit is to convey domestic steel and aluminum industry concern over the new tariffs, highlight Taiwan's role as an important security partner of the US and explain to the USA that Taiwan's steel and aluminum makers do not pose a threat to their US counterparts. "Higher tariffs will mean higher costs to businesses and in turn higher prices for American families".

Trade associations publicly pushing back against Trump's tariff plans include the US Chamber of Commerce, the National Retail Federation and the Information Technology Industry Council.

The unilateral tariff plan has sparked widespread criticism and opposition among US business groups and global trading partners, which argued that the tariffs would hurt American consumers, businesses and the overall economy.

In a letter first reported Sunday by the Wall Street Journal, 45 USA trade groups representing everything from the high-tech industry to apparel vendors and auto parts importers said planned tariffs on China shipments would backfire sooner or later. A tariff on these products would be a tax on every American.

A recent study by the Trade Partnership, a Washington D.C. -based consulting firm, estimated that Trump's new tariffs on steel and aluminum would result in a net loss of almost 470,000 U.S.jobs after accounting for positive impacts on US steel and aluminum producers.

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