Forty-five U. S. trade associations representing some of the largest companies in the country are urging President Donald Trump not to impose tariffs on China, warning it would be „particularly harmful“ to the U. S. economy and consumers.
WASHINGTON (Reuters) – Forty-five U. S. trade associations representing some of the largest companies in the country are urging President Donald Trump not to impose tariffs on China, warning it would be “particularly harmful” to the U. S. economy and consumers.
The organizations said in a letter sent to Trump on Sunday that potential tariffs on China would raise prices on consumer goods, kill jobs and drive down financial markets.
The letter marks the latest in a growing rift between Trump and the business community on trade policies, as the president has begun to take more aggressive steps he says are needed to protect domestic industry.
“We urge the administration not to impose tariffs and to work with the business community to find an effective, but measured, solution to China’s protectionist trade policies and practices that protects American jobs and competitiveness,” the groups wrote.
“Tariffs would be particularly harmful,” they said.
The groups called on Trump to work with trade allies to push for changes to China’s policies.
