More communiqués sent from the (trade) war front

Shots fired. Talk turned to tax Friday when President Donald Trump imposed a 25 percent tariff on more than $34 billion worth of Chinese exports to the United States. China retaliated.

The U.S. Chamber of Commerce — not known to be a bastion of wildeyed Bolsheviks — is hoping the shock and awe of heavy statistics will cause cooler heads to prevail and keep the trade war contained and short.

“Canada, Mexico, the EU and China have already retaliated or announced plans to retaliate with billions of dollars in tariffs on American-made products,” the business group says on its Web page. “Tariffs imposed by the United States are nothing more than a tax increase on American consumers and businesses, including manufacturers, farmers and technology companies, who will all pay more for commonly used products and materials.

“Retaliatory tariffs imposed by other countries on U.S. exports will make American-made goods more expensive, resulting in lost sales and ultimately lost jobs here at home. This is the wrong approach, and it threatens to derail our nation’s recent economic resurgence.”

The Chamber had these stats on the Oklahoma impact:

• Oklahoma jobs supported by trade: 401,000.

• Total state exports threatened by new tariffs: $208,124,475.

• Total exports to Canada threatened by new tariffs, including iron and steel products: $78,521,529.

• Total exports to China threatened by new tariffs, including frozen pork, cotton and animal guts, bladders, stomachs and parts: $59,983,126.

• Total exports to EU threatened by new tariffs, including iron and steel: $6,032,520.

• Total exports to Mexico threatened by new tariffs, including fresh and chilled swine, hams, shoulders, steel and iron $63,587,300.

Other trade groups weighed in:

Contractors

Associated General Contractors of America:

“Construction employment increased by 13,000 jobs in June and by 282,000 jobs over the past year, reaching a 10-year high, according to an analysis of new government data . ... Association officials said many construction firms appear to be more willing to hire amid lower tax rates and a more favorable business environment, but caution that trade fights and labor shortages pose risks to future growth.”

Retailers

National Retail Federation, President and CEO Matthew Shay:

“With tariffs against China taking effect, American consumers are one step closer to feeling the full effects of a trade war. These tariffs will do nothing to protect U.S. jobs, but they will undermine the benefits of tax reform and drive up prices for a wide range of products as diverse as tool sets, batteries, remote controls, flash drives and thermostats. And students could pay more for the mini-refrigerator they need in their dorm room as they head back to college this fall.

“We strongly urge the administration to abandon its plans for tariffs on another $200 billion in Chinese imports, which would destroy thousands of American jobs and raise prices on virtually everything sold in our stores. Reining in China’s abusive trade policies is a goal shared by many countries, but a strategy based on unilateral tariffs is the wrong approach and it has to stop.”

Technology

Consumer Technology Association, Sage Chandler, staff vice president, international trade, government affairs:

“While President Trump says his trade policy is meant to punish China, the numbers show that, in reality, U.S. businesses, workers and consumers will pay the price under this policy. Of the original $50 billion in tariffs on China, items including lithium batteries, navigation devices, disk drives and circuit board components will be affected — hitting $15.2 billion worth of Chinese imports.

“These tariffs on $50 billion of Chinese imports, coupled with retaliation promised by China, would reduce U.S. gross domestic product by nearly $3 billion annually, and an additional $100 billion of Chinese imports would reduce GDP by $49 billion, according to a CTA and National Retail Federation study.

“Consequently, Trump’s tariffs combined with retaliatory actions by China risk hundreds of thousands of potential American jobs. Four U.S. jobs willbe lost for every job gained.”