We use cookies to provide some features and experiences in QOSHE

More information  .  Close
Aa Aa Aa
- A +

Hundreds of U.S. Businesses Urge Trump Not to Expand China Tariffs

1 0 0
17.06.2019

What happens if President Donald Trump carries out his threat to impose tariffs on the remaining $300 billion in Chinese goods that he hasn't already hit with 25 percent import taxes?

A New Hampshire fireworks company says it would have to raise prices, likely lose business and force some small towns to cancel their Fourth of July fireworks displays.

A Minnesota motorcycle maker warns that it would lose business to foreign rivals that don't have to pay taxes on Chinese parts.

A Los Angeles designer and distributor of houseware goods says it would have to extend a hiring freeze and delay plans to expand into a larger warehouse.

The administration, in the midst of the trade war it began with Beijing, had asked for comments on its plan to extend 25 percent tariffs to everything China ships to the United States.

It's getting an earful.

Hundreds of businesses, trade groups and individuals have written to complain that the additional import taxes would drive up prices for consumers, squeeze profits and leave U.S. companies at a competitive disadvantage to foreign rivals that aren't subject to higher taxes on the vital components they buy from China.

They're pleading with the administration to rethink the tariffs-- or at least spare the particular imports they and their customers rely on. Some will appear in person to air their grievances in seven days of hearings in Washington that begin Monday.

A common theme in their pleas is that American businesses-- not China, as Trump often asserts-- must pay the import taxes the president is imposing on Chinese goods.........

© Inc.com