United States retailers urge Trump against tariffs

United States retailers urge Trump against tariffs

"Tariffs on electronics, apparel, and other consumer products would increase prices for US consumers and businesses, while doing little to address the fundamental challenges posed by unfair and discriminatory Chinese trade practices", they said in the letter.

"We urge the administration not to impose tariffs and to work with the business community to find an effective, but measured, solution to China's protectionist trade policies and practices that protects American jobs and competitiveness", the groups wrote.

The agency said it anticipates that it will receive some 4,500 requests from USA businesses seeking exclusions for imported steel and aluminum products that are not available in sufficient quantity or quality from US manufacturers.

It also warned that if China retaliates against U.S. companies in response to tariffs, American companies would lose business and would be replaced by companies from other countries.

The 45 groups include some of the biggest US industries, including the Consumer Technology Association and the National Retail Federation, whose members include large corporations including Walmart (WMT) and Apple (APPL).

Mr Trudeau's statement came amid rising global trade tensions following the US' decision to impose tariffs on imported steel and aluminum.

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They added "the Trump administration should not respond to unfair Chinese practices and policies by imposing tariffs or other measures that will harm United States companies ... and investors".

Chinese Foreign Ministry spokesperson Lu Kang said that if Sino-US trade is only beneficial to China, trade and economic ties between the two countries could not have lasted this long.

Despite the good intentions, large USA retailers that have high-volume trade partnerships with Chinese suppliers and manufactures worry the plan will backfire at the cost of American consumers. U.S. Customs and Border Protection has been directed to begin collecting the 25 percent tariffs on steel and 10 percent tariffs on aluminum at 12:01 a.m. (0401 GMT) on March 23.

According to the order, Canada and Mexico have been temporarily exempted from the tariffs.

Potentially broader anti-China tariffs and investment restrictions under consideration as part of a USA intellectual property probe have raised concerns that retaliation could seriously diminish global trade and choke off the strongest global growth since the G20 was formed during the 2008 financial crisis.

Chinese officials have warned they are likely to retaliate in kind.

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