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US industry associations oppose US government's escalation of tariff measures against China

US industry associations oppose US government's escalation of tariff measures against China

The National Retailers Association, the Information Technology Industry Association, the Chemistry Committee, the Soybean Association and many other industry associations have recently issued statements stating that the US government plans to impose a tariff rate of 10 billion US dollars on Chinese exports to the US on May 10 upgraded to 25%.

David French, senior vice president of the National Retail Federation of the United States, said in a statement that the addition of tariffs is a tax on US businesses and consumers. The US government will suddenly raise tariffs in less than a week. Injury to American businesses. French said that if the US government implements the tariff threat, American consumers will face higher costs, and US employment will also face losses.

The US Retail Industry Leadership Association issued a statement saying that raising tariffs means taxing millions of American households and will trigger further counter-measures against US farmers and endanger domestic employment. The association hopes that the US government and China will successfully reach an agreement that "a transaction to raise tariffs on everyday goods is a failure for US middle-class families."

Naomi Wilson, senior director of Asian policy at the US Information Technology Industry Association, said that the addition of tariffs will only continue to harm US consumers and businesses, as well as threaten US economic growth and innovative leadership. The threat of additional tariffs in the current negotiation phase is not conducive to the important progress made by the United States and China in solving long-term complex problems.

Kelly Duley, president of the American Chemistry Council, said: "We are beginning to see (added) tariffs disrupting the supply chain, cutting the market, and weakening the competitiveness of the US chemical manufacturing industry." The association urged the US government to find this week with China. A reasonable solution to abandon the tariff.

David Stephens, president of the American Soybean Association, said: "For the current tariff dispute, we need a positive solution, rather than further escalating the tension." Stephens said that considering the low soybean prices and the harvest before September this year The expectation that soybeans have not doubled their stocks, the US industry is in urgent need of the Chinese market. The association urged the US government to suspend tariff increases and quickly complete trade negotiations with China.

The American Federation of Apparel and Footwear Industry said in a statement that, as the US government’s tariff measures in the past year have shown, the addition of tariffs is an additional tax burden on Americans; the high cost of additional tariffs will be transmitted to the US. Injury American families, workers, businesses and the overall economy.

The lobbying organization representing more than 150 trade associations in the United States has also issued a statement saying that in the past 10 months, Americans have been paying for the full cost of trade friction; suddenly raising tariffs will only punish American farmers, businesses and consumers. . The statement pointed out that recent estimates suggest that raising the tariff to 25% would damage nearly 1 million US jobs and increase financial market turmoil.

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