Over 650 companies urge Trump to end China dispute

The letter, organized by Tariffs Hurt the Heartland, said additional tariffs would result in the loss of 2 million American jobs and reduce the value of the GDP by 1%.

Over 650 companies urge Trump to end China dispute

The letter, organized by Tariffs Hurt the Heartland, said additional tariffs would result in the loss of 2 million American jobs and reduce the value of the GDP by 1%.

Over 650 companies urge Trump to end China dispute

The letter, organized by Tariffs Hurt the Heartland, said additional tariffs would result in the loss of 2 million American jobs and reduce the value of the GDP by 1%.

 

   More than 650 American companies and trade associations signed a letter sent Thursday to President Donald Trump that said additional tariffs against China “will have a significant, negative and long-term impact on American business, farmers, families and the U.S. economy.”
    Tariffs Hurt the Heartland organized the letter — signed by major retailers such as Walmart, Target and Macy’s as well as manufacturers and tech companies — that was sent days before the Office of the United States Trade Representative’s public hearing scheduled for Monday on Section 301 tariffs of up to 25% on Chinese products with an annual trade value of about $300 billion. The Trump administration also announced in May that 10% tariffs across $200 billion worth of Chinese goods in 2017 import value will increase to 25% beginning Saturday in addition to the 25% tariffs across another $50 billion of goods.
    The letter, citing information from Trade Partnership Worldwide, said the new tariffs would cause the loss of more than 2 million U.S. jobs, add more than $2,000 in costs for the average American family of four and reduce the value of the U.S. GDP by 1%.
    “We urge your administration to get back to the negotiating table while working with our allies to develop global, enforceable solutions,” the letter said. “An escalated trade war is not in the country’s best interest, and both sides will lose.”

The opportunity we have right now to improve the NAFTA is too important not to get it right. We have a chance to set the American economy and American workers on a better course.

Seven container liner shipping companies deploy capacity on the India Subcontinent to North America (US/CA) trade, with Maersk Line deploying the most capacity each week towards the trade, according to BlueWater Reporting’s Carrier/Trade Route Deployment Report.

Most Popular
Latest News
Social Media

Loading...

ITC launches Africa trade investigation

ITC launches Africa trade investigation

Embed this story

Share Code Version 1

This version will embed the story headline and includes HTML fallback protection, ensuring the story will display even if some users decide to disable javascript in their browsers.

Copy & Paste the following code to embed this story on your website:

Preview

Over 650 companies urge Trump to end China dispute

The letter, organized by Tariffs Hurt the Heartland, said additional tariffs would result in the loss of 2 million American jobs and reduce the value of the GDP by 1%.

Jun 14, 2019 on Dec 27, 2018AmericanShipper.com

Share Code Version 2

This version will embed the story headline without any styling applied. Use this version if you will use your own custom styling on your website. This version also includes HTML fallback protection.

Copy & Paste the following code to embed this story on your website:

Preview

Over 650 companies urge Trump to end China dispute

The letter, organized by Tariffs Hurt the Heartland, said additional tariffs would result in the loss of 2 million American jobs and reduce the value of the GDP by 1%.

Jun 14, 2019 on Dec 27, 2018AmericanShipper.com