enarhyazzh-CNzh-TWcsdanlettlfifrkadeelhihuisiditjakolvmsnofaplptruskslessvthtrukviyi

.........-----

translate arrow

WASHINGTON D.C.: June 13, 2019. Tariffs Hurt the Heartland, a US campaign against Donald Trump’s tariffs, has sent him a letter signed by 141 trade associations and 520 American companies, including Walmart, saying his war on tariffs with China will cost two million American jobs.

tariffs Earlier this year the organisation released estimates prepared by Trade Partnership Worldwide that showed imposing new tariffs on an additional US$300 billion in goods (combined with the impacted of previously implemented tariffs and retaliation) would result in the loss of more than two million US jobs, add more than US$2,000 in costs for the average American family of four and reduce the value of US GDP by 1.0 percent.

The letter is published as the Office of the U.S. Trade Representative is set to begin hearings considering 25 percent tariffs on US$300 billion in goods, 60 percent of which are consumer products.

“We remain concerned about the escalation of tit-for-tat tariffs,” said the letter. “We know firsthand that the additional tariffs will have a significant, negative and long-term impact on American businesses, farmers, families and the U.S. economy. Broadly applied tariffs are not an effective tool to change China’s unfair trade practices. Tariffs are taxes paid directly by US companies, not China.

“We urge your administration to get back to the negotiating table while working with our allies to develop global, enforceable solutions. An escalated trade war is not in the country’s best interest, and both sides will lose,” the companies and associations added.

Pictured: CNBC on Tariff Tracker Data for September 2018: Tariffs are Taxes

- powered by Quickchilli.com -