China Retaliation Over Upcoming US Tariffs Will Cause Exporters to 'Suffer,' USCBC Says
The U.S.-China Business Council urged the Trump administration to reconsider his threat of a 10 percent tariff on $300 billion worth of Chinese goods, saying the threats will hurt the reputation and businesses of U.S. exporters, in an Aug. 1 press release.
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The measures will cause U.S. farmers to “suffer more,” USCBC President Craig Allen said. Allen said the council is also concerned about China’s retaliation, which he said will lead to “increased regulatory scrutiny, delays in licenses and approvals, and discrimination against US companies in government procurement tenders.”
“[A]ny retaliation will be qualitative and disproportionately impact US companies operating in China,” Allen said, adding that the threats may “drive the Chinese from the negotiating table.”