Next China tariffs to cost Americans from cradle to grave: Firms
A broad cross-section of US businesses has a message for the Trump administration: New tariffs on $200 billion of Chinese imports will force Americans to pay more for items they use throughout their daily lives, from cradles to coffins.
Six days of public hearings on the proposed duties of up to 25 per cent will start on Monday in Washington as part of President Donald Trump’s and the US Trade Representative’s efforts to pressure Beijing for sweeping changes to its trade and economic policies.
Unlike previous rounds of US tariffs, which sought to shield consumers by targeting Chinese industrial machinery, electronic components and other intermediate goods, thousands of consumer products could be directly hit with tariffs by late September.
The $200 billion list targets Chinese seafood, furniture and lighting products, tires, chemicals, plastics, bicycles and car seats for babies. “USTR’s proposed tariffs on an additional $200 billion of Chinese imports dramatically expands the harm to American consumers, workers,
businesses, and the economy,” the US Chamber of Commerce said in written testimony for the hearing.
The top US business lobbying group said the Trump administration lacks a “coherent strategy” to address China's theft of intellectual property and other harmful trade practices and called for "serious discussions" with Beijing.