WASHINGTON, DC - The US-China Business Council (USCBC) is disappointed that the Trump administration has decided to move forward with placing a 10 percent tariff on the remaining $300 billion of Chinese imports to the United States starting on September 1.
According to USCBC President Craig Allen, “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.”
Allen said it was disconcerting that the additional tariffs were announced after learning yesterday that the talks were considered constructive, there was additional discussion about purchasing US agricultural products, and that another meeting of negotiators would take place in Washington, DC, 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. He further stated that “China does not import enough to respond in kind, so any retaliation will be qualitative and disproportionately impact US companies operating in China. We are particularly concerned about increased regulatory scrutiny, delays in licenses and approvals, and discrimination against US companies in government procurement tenders.”
He said the president’s action will not facilitate an agreement to further open China’s markets and to treat US companies fairly, but lead to more difficulties.
USCBC calls on both parties to refrain from the use of punitive tariffs and to resume talks without preconditions.
