U.S. businesses urge Biden to restart China talks, scrap tariffs
by Bloomberg Aug 06, 2021
More than 30 U.S. trade groups called on the Biden administration to resume negotiations with China and remove tariffs, which they say are harming the American economy.
In a Thursday letter to Treasury Secretary Janet Yellen and Trade Representative Katherine Tai, the groups urged the U.S. government to restart talks with China to ensure Beijing meets its commitments under the 2020 phase one trade deal and increase purchases of American goods in the rest of 2021.
The groups include influential organizations like the U.S. Chamber of Commerce, the American Farm Bureau Federation and the Semiconductor Industry Association.
“Due to the tariffs, U.S. industries face increased costs to manufacture products and provide services domestically, making their exports of these products and services less competitive abroad,” according to a copy of the letter obtained by Bloomberg News. “The administration can take immediate steps to relieve increasing inflationary pressures and rising prices for all Americans” by reducing the import tariffs, they said.
The U.S. has maintained tariffs on Chinese imports to keep pressure on Beijing to fulfill its obligations under the trade pact. So far, China remains well behind in meeting those goals.
Bloomberg
© Bloomberg
The author’s opinion are not necessarily the opinions of the American Journal of Transportation (AJOT).
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