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Business groups object to Trump plans to retain tariffs in China trade deal
by Sean Higgins
| April 22, 2019 12:32 PM
A coalition of business groups called on the Trump administration Monday to scrap its plans to retain tariffs on Chinese goods as part of the trade deal it is negotiating with Beijing.
"As we inch closer to a final deal, a key part must be the full and immediate removal of all added tariffs when the deal is signed. Anything that falls short of that goal would be a loss for the American people," said the ad-hoc coalition group Americans for Free Trade in a letter to President Trump Monday. The White House has imposed tariffs of 10%-25% on $250 billion worth of Chinese goods
The coalition said that the Trump administration's plans to include a mechanism in the deal that would impose new tariffs on China as punishment for violating the agreement's terms would defeat the purpose of having a deal in the first place: "Using tariffs to enforce a deal that eliminates tariffs is a lose-lose proposition, and once again, Americans would pay the price. We must have an enforcement mechanism that does not punish Americans for China’s unfair trade practices."
The coalition includes American Petroleum Institute, the U.S.-China Business Council, and the Retail Industry Leaders Association, among a more than 100 other members.
U.S. Treasury Secretary Steven Mnuchin said last week that the United States and China had agreed on an enforcement mechanism as part of a trade deal between the two countries, but did not elaborate on what it would involve. The enforcement issue has been a major stumbling block in the ongoing negotiations, because the U.S. has pushed for imposition of tariffs without retaliation from China as the mechanism.
Trump has also indicated that the U.S. wants to keep at least some of the existing tariffs against China in place.
https://www.washingtonexaminer.com/...p-plans-to-retain-tariffs-in-china-trade-deal
by Sean Higgins
| April 22, 2019 12:32 PM
A coalition of business groups called on the Trump administration Monday to scrap its plans to retain tariffs on Chinese goods as part of the trade deal it is negotiating with Beijing.
"As we inch closer to a final deal, a key part must be the full and immediate removal of all added tariffs when the deal is signed. Anything that falls short of that goal would be a loss for the American people," said the ad-hoc coalition group Americans for Free Trade in a letter to President Trump Monday. The White House has imposed tariffs of 10%-25% on $250 billion worth of Chinese goods
The coalition said that the Trump administration's plans to include a mechanism in the deal that would impose new tariffs on China as punishment for violating the agreement's terms would defeat the purpose of having a deal in the first place: "Using tariffs to enforce a deal that eliminates tariffs is a lose-lose proposition, and once again, Americans would pay the price. We must have an enforcement mechanism that does not punish Americans for China’s unfair trade practices."
The coalition includes American Petroleum Institute, the U.S.-China Business Council, and the Retail Industry Leaders Association, among a more than 100 other members.
U.S. Treasury Secretary Steven Mnuchin said last week that the United States and China had agreed on an enforcement mechanism as part of a trade deal between the two countries, but did not elaborate on what it would involve. The enforcement issue has been a major stumbling block in the ongoing negotiations, because the U.S. has pushed for imposition of tariffs without retaliation from China as the mechanism.
Trump has also indicated that the U.S. wants to keep at least some of the existing tariffs against China in place.
https://www.washingtonexaminer.com/...p-plans-to-retain-tariffs-in-china-trade-deal
