Business Groups Plead With Trump to Roll Back Chinese Tariffs
A coalition of almost 150 trade groups -- including multiple customs broker groups -- sent a letter to President Donald Trump Nov. 27 warning that the tariffs levied so far are damaging exports and that consumers will be bearing the…
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brunt of additional tariffs, if they come. The letter notes that exports subject to retaliatory tariffs have dropped by 26 percent as of September, compared to September 2017, and that businesses paid more than $5.6 billion in tariffs in October, a more than 70 percent increase from October 2017. "Mr. President, we urge you to capitalize on your upcoming meeting with President Xi to reach an agreement that addresses China’s unfair trade practices and policies in order to remove the 2018 tariff increases, forgo the January 2019 tariff increase and avoid an additional round of tariffs on the remaining $267 billion worth of everyday consumer products and manufacturing inputs," wrote the coalition, which is known as Americans for Free Trade. "Millions of American farmers, business owners, companies, workers, and families are counting on you to make a deal."