Chamber of Commerce warns Trump against China tariffs
The head of the most influential U.S. business lobbying group warned the Trump administration that unilateral tariffs on Chinese goods could lead to a destructive trade war that will hurt American consumers and U.S. economic growth.
16 Mar 2018 11:41AM
Ricky Lim ·
U.S. Chamber of Commerce President Thomas Donohue said in a statement on Thursday that such tariffs, associated with a probe of China's intellectual property practices, would be "damaging taxes on American consumers."
"Tariffs of US$30 billion a year would wipe out over a third of the savings American families received from the doubling of the standard deduction in tax reform," Donohue said. "If the tariffs reach US$60 billion, which has been rumored, the impact would be even more devastating."
He urged the administration not to proceed with such a plan.
"Tariffs could lead to a destructive trade war with serious consequences for U.S. economic growth and job creation," hurting consumers, businesses, farmers and ranchers.
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Trump should follow this person's expert advice.
Global trade war through Tariff - will destroy both US and the World Economy.
"Tariffs of US$30 billion a year would wipe out over a third of the savings American families received from the doubling of the standard deduction in tax reform," Donohue said. "If the tariffs reach US$60 billion, which has been rumored, the impact would be even more devastating."
He urged the administration not to proceed with such a plan.
"Tariffs could lead to a destructive trade war with serious consequences for U.S. economic growth and job creation," hurting consumers, businesses, farmers and ranchers.
---
Trump should follow this person's expert advice.
Global trade war through Tariff - will destroy both US and the World Economy.
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