All Sectors Of The United States Strongly Object To Raising Tariff Rates On Goods Exported To China.

In August 24th, the US side announced that it would raise tariffs on Tariffs of about 550 billion US dollars on Chinese exports to the US, and claimed that it required us companies to leave China. The move triggered market turbulence and strong discontent among all sectors of the American society.

"This is a major mistake."

The US business community has sharply criticized the US side's position. They warned that the economic and trade frictions would damage US businesses and the wider economy, while claiming that the US companies should leave China would pose a new threat to US multinationals.

The Dow Jones index fell more than 600 points on that day. Gary Shapiro, chairman and chief executive of the American consumer Technology Association, sighed, "really enough! Today's Dow Jones Industrial Average fell 623 points, proving that the market is staggering because of worries about the economic recession. The escalation of economic and trade frictions will only bring more pain to the United States. The levying tariff is a tax imposed on Americans, which has led us to the wrong economic path and damaged our global position. This is a major mistake. How long will the financial burden of this misguided trade policy take on American families, enterprises and society?

Myron, executive vice president of the US Chamber of Commerce and director of international affairs, said in a statement that the economic and trade relations between the US and China in the past 40 years are, to a large extent, fruitful, constructive and mutually beneficial. American enterprises have always been participants in China's economic development. The development of China benefits the two peoples and does not want to see further deterioration of Sino US relations. David French, senior vice chairman of the National Retail Federation responsible for government relations, said: "the government's decision to impose tariffs is clearly not functioning. The solution is not to allow American businesses and consumers to bear higher taxes. "Where is the end?" the National Association of retail leaders said in a statement that the increasing tariffs of the US have disrupted the US market. Uncertainty will spread from Wall Street to the general public. The victims will be American consumers, not China, calling for the end of the economic and trade frictions before the damage is irreversible. Rick Helfenbain, President of the national apparel and Footwear Association, said, "raising the tariff rate will be a disaster for the American consumers, enterprises and the economy."

"With the increase in bankruptcies and default payments, people feel more and more disappointed."

Jeff Fischer, the head of the US golden planet clothing company, told our reporter that the US side claimed that the tariffs already collected were paid by China, which is absolutely a lie. Tariffs also encourage importers to make jobs in the United States, thereby creating jobs for the United States, which is also a lie. Tariffs will not only have a negative impact on US consumers at higher prices, but may also bring a devastating blow to workers' employment. Brett Cleveland, executive director of the fashion jewelry trade association, told the newspaper that tariffs are a tax paid by American consumers. For decades, we have been committed to developing relations with Chinese factories. Replacing these factories is not easy. The fashion jewelry industry is unable to digest the costs arising from tariff increases. The goods shipped in September were purchased in the first 4 to 6 months, but now they have to pay higher tariffs or be forced to cancel the purchase orders. This will cause losses to the importers and eventually transfer the burden to consumers.

The United States agricultural industry organization "farmers for free trade" statement issued: "for American farmers, the pain of economic and trade friction is increasing every week. Most agricultural areas feel gloomy and anger is spreading. With the increase in bankruptcies and delinquencies, people are becoming more and more disappointed.

"Damaging the domestic and global economic growth of the United States"

Recently, "the US may fall into recession due to protectionist policies and economic and trade frictions" is frequently seen in the major US media. Many economists say that raising tariffs on Chinese exports to the US may raise consumers' purchase prices from mobile phones, video game consoles to clothing and footwear. At the same time, there are signs that the US economy is slowing down, including a decline in corporate profits and a decrease in job creation. Paul Ashworth, chief economist of Kay investment, believes that an additional tariff of about $550 billion on Chinese imports is equivalent to a levy of about 27 billion dollars on US consumers. The greater threat is that there is a great panic about the time and whether the economic and trade frictions can be ended.

A recent report by JP Morgan said that since the United States imposed tariffs on some US exports since last year, the average cost of US $600 per household will be increased annually. If we continue to impose tariffs, the average additional family burden will increase to around us $1000 per year. The CNN commented on this comment that "the United States is playing with fire to raise tariff rates on a range of consumer products including video games, television and clothing." For us small businesses, which account for half of the US economy and labor force, economic and trade frictions are undoubtedly greater risks.

"Importers and consumers in the United States are bearing the burden of tariffs." "Raising tariffs is unlikely to solve the problem of total trade imbalance in the United States," Gita Gopinat, chief economist of the International Monetary Fund, said. "On the contrary, it may weaken corporate confidence and investment, disrupt the global supply chain, increase the cost of producers and consumers, and undermine the domestic and global economic growth of the United States."