Forty-five U.S. trade associations urging Trump not to impose tariffs on China

Vastavam web: 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.

“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.The groups called on Trump to work with trade allies to push for changes to China’s policies. The business groups said while they had serious concerns about China’s approach to trade, unilateral tariffs by the United States would only separate the country from allies, and encourage them to replace the U.S. business presence in China when Beijing retaliates.

The Trump administration is said to be preparing tariffs against Chinese information technology, telecoms and consumer products in an attempt to force changes in Beijing’s intellectual property and investment practices.The Republican president recently announced plans to impose tariffs on certain steel and aluminum imports, despite opposition from some business sectors.