U.S. Business Owners Testify On Tariff Concerns

May 16, 2018 10:07 AM
 

This week, President Trump has signaled that he is rethinking his threat to impose tariffs on up to $150 billion worth of Chinese goods.

In a series of tweets, Mr. Trump emphasized his friendship with Chinese president, Xi Jinping, and that he is considering easing penalties on ZTE, in order to help the company stay in business. The Chinese telecom company is the fourth-largest provider of smartphones in the U.S.

In tweets yesterday, Mr. Trump said “trade negotiations are continuing with China” and to “stay tuned!”

What happens next likely hinges on discussions now underway in Washington between the Trump administration and Chinese vice premier, Lieu He, who arrived in the U.S. just yesterday.

As part of those meetings, TV makers, auto parts suppliers, steel companies, trade groups and other industry representatives are testifying before United States trade officials about the administration’s plan to impose tariffs on more than 1,300 Chinese imports, The New York Times noted in an article published today.

“Some commended the planned 25% tariffs on Chinese imports and others blasted them, but all agreed on the potential for the Trump administration’s actions to irrevocably alter the course of their businesses,” the Times reports.

The organization Americans for Farmers & Families compiled the following series of articles, which detail recent developments in the ongoing U.S.-China trade tariffs discussions.

“Signs China Tariffs Are Starting To Hurt U.S. Businesses, Wallets,” CBS News

“Farmers Need Certainty From Trade Talks,” Farm Bureau

“China Cutting US Soybean Purchases In Face Of Tariffs Threat,” The Associated Press

“Even A Limited Trade War With China Could Really Cost The U.S. Economy,” The Washington Post

“Indiana At Considerable Risk In Trade Disruptions,” Washington Times Herald

“Study: Trade Conflict With China Would Cost Iowa 1,800 Jobs,” The Courier

“Angst Hangs Over Farm Belt After Reports That China Stopped Buying US Soybeans,” CNBC,

“U.S. Farmers Are Already Suffering From Lost Chinese Orders For Corn, Soybeans And Pork,” The Wall Street Journal

“Iowa Farmer: NAFTA, China, TPP Offer Unique Opportunities For U.S. Producers,” Globe Gazette


 

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