US tariff on China not the right approach says American industry

Vastavam web: American industry today opposed the decision of President Donald Trump to impose a 25 per cent tariff on import of goods worth USD 50 billion from China, arguing that it is not the right approach.”Imposing tariffs places the cost of China’s unfair trade practices squarely on the shoulders of American consumers, manufacturers, farmers, and ranchers. This is not the right approach,” US Chamber of Commerce president and CEO Thomas J Donohue said.However, the opposition Democratic Party came out in support of the imposition of tariffs.

The president’s actions on China are on the money. China is our real trade enemy, and their theft of intellectual property and their refusal to let our companies compete fairly threatens millions of future American jobs, said Senator Chuck Schumer, the Senate minority leader.While we await further details on this trade action, President Trump is right on target, Schumer said.China must take responsibility and act expeditiously to change its policies to avoid the damaging effects of tariffs and escalating retaliation. America’s trade strategy must focus on combating China’s discriminatory and market-distorting practices, he said.

Ill-conceived trade actions that weaken the American economy, alienate allies, and invite retaliation against American businesses, farmers and ranchers, undermine our nation’s ability to successfully confront China’s unfair trade policies,” Hatch said.I urge the US Trade Representative to narrow these tariffs and implement an effective exclusion process that provides relief for American companies, unlike the problematic Commerce 232 exclusion process, Brady said.While it’s encouraging that not all of the initially proposed tariffs will be implemented as a result of the comment period that Congress called for I am alarmed that additional products are now placed on the list for possible future action, he said.