US Chamber Of Commerce Rejects Trump's Order To Halt American Business With China
Faizan Hashmi 29 days ago Fri 23rd August 2019 | 11:20 PM
The US Chamber of Commerce in a statement on Friday rejected US President Donald Trump's order for free American companies to stop doing business with China after Beijing announced new tariffs against the United States
Earlier in the day, Trump in a tweet ordered American companies to immediately start looking for an alternative to China. Trump also said US companies must bring their businesses back to the United States.
"While we share the President's frustration, we believe that continued, constructive engagement is the right way forward," the statement said. "Time is of the essence. We do not want to see a further deterioration of US-China relations."
The Chamber of Commerce, which has been an opponent to tariffs against China, said that despite concerns over Chinese trade practices, the US-Chinese relationship has for the most part been productive, constructive and mutually beneficial.
The Chamber of Commerce urges the administration and the government of China to return to the negotiating table to complete an agreement that addresses concerns over trade practices, intellectual property enforcement, market access and the globally damaging impact of Chinese domestic subsidies.
Earlier on Friday, the Chinese State Council said tariffs ranging from 5 to 10 percent would be applied to $75 billion worth of US goods, with some taking effect on September 1 and others on December 15. The latter batch will also include a 25 percent duty on American cars.
China's newly announced tariffs on Friday are in response to Trump's announcement earlier this month of 10 percent tariffs on an additional $300 billion in Chinese goods, although some items have since been removed from the list and others delayed until after the holiday shopping season.