New Tariffs On Chinese Imports Not To Facilitate Agreement: US-China Business Council

The US-China Business Council said Thursday that US President Donald Trump’s plan to impose more tariffs on Chinese imports will not facilitate an agreement, but lead to more difficulties.

 

“We’re concerned that today’s action will drive the Chinese from the negotiating table, reducing hope raised by a second round of talks that ended this week in Shanghai,” USCBC President Craig Allen said in a statement, after Trump tweeted he will place an additional 10-percent tariff on the remaining US$300 billion worth of Chinese imports starting on September 1.

 

Allen said it was “disconcerting that the additional tariffs were announced after learning yesterday that the talks were considered constructive,” and that another meeting of negotiators would take place in Washington D.C. in early September.

 

“We’re concerned these additional tariffs will further erode our reputation as a reliable supplier, and our farmers, workers and consumers will suffer more,” said Allen, adding that his organization is also worried about potential retaliation from China.

 

“USCBC calls on both parties to refrain from the use of punitive tariffs and to resume talks without preconditions,” he said.

 

Myron Brilliant, executive vice president and head of international affairs at the US Chamber of Commerce, said in a statement that the new tariffs “will only inflict greater pain” on American businesses, farmers, workers and consumers, and undermine the US economy.

 

“We urge the two sides to recommit to achieving progress in the very near term before these new tariffs come into effect, and to remove all remaining tariffs as swiftly as possible,” Brilliant said.

 

Source: Xinhua