Trade groups urge Trump to stop planned China tariffs

WASHINGTON: Leading US trade associations have written to President Donald Trump urging him to halt plans to slap tariffs on Chinese imports.

The letter, first reported by the Wall Street Journal, is signed by 45 US trade groups representing everything from the high-tech industry to apparel vendors, agribusiness and auto parts importers. The trade groups represent companies such as Apple, Alphabet, Walmart and Nike.

“The imposition of sweeping tariffs would trigger a chain reaction of negative consequences for the US economy, provoking retaliation; stifling US agriculture, goods, and services exports; and raising costs for businesses and consumers. The Trump administration “should not respond to unfair Chinese practices and policies by imposing tariffs or other measures that will harm US companies, workers, farmers, ranchers, consumers and investors.”

US officials should “work with likeminded partners to address common concerns with China’s trade and investment policies,” the letter reads.

Unilateral US tariffs “would only serve to split the United States from its allies, hinder joint action to effectively address shared challenges, and ensure that foreign companies take the place of markets that American companies, farmers and ranchers must vacate when China retaliates.” — AFP