“American companies and consumers are already feeling the impact of earlier tariffs. The administration’s latest moves will only make matters worse.”
Washington, D.C., September 17, 2018 – Responding to the Trump administration’s imposition of tariffs on an additional $200 billion of Chinese imports, the United States Council for International Business (USCIB), which represents America’s most competitive global companies, issued the following statement:
“American business reiterates its call for the U.S. and China to take immediate steps to de-escalate their trade conflict, which risks upending financial markets and doing lasting damage to the U.S. and global economies.
“As we have stated on numerous occasions, including the recent U.S. public hearings on these tariffs, American companies and consumers are already feeling the impact of earlier tariffs, in the form of rising costs and operational disruptions. The administration’s latest moves will only make matters worse.
“While we support efforts to compel China to change its discriminatory trade practices negatively affecting U.S. companies, these new tariffs are unlikely to achieve such a goal, as we fully expect the Chinese government to retaliate, with American consumers and small businesses bearing a significant portion of the cost.
“We continue to believe that a better solution is for the United States and its trading partners to apply concerted pressure to address China’s unfair trading behavior, especially via the WTO, in ways that do not place the primary burden on America’s consumers, workers, farmers and companies.”
USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world, generating $5 trillion in annual revenues and employing over 11 million people worldwide. As the U.S. affiliate of several leading international business organizations, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More information is available at www.uscib.org.
Jonathan Huneke, USCIB
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