Washington – Business Roundtable today released the following statement opposing the Administration’s announcement of Chinese goods that will be subject to U.S. tariffs:
“Business Roundtable opposes the Administration’s announcement that it will impose tariffs on approximately $50 billion worth of Chinese goods. Rather than allowing time for constructive negotiations to produce results, today’s action invites China to hit back at American businesses, farmers, communities and families.
“Business Roundtable shares the Administration's concerns about China's discriminatory trade practices, including forced technology transfers and inadequate intellectual property protections. Risking a potential trade war is the wrong way to fix these problems and will cause unnecessary harm to America’s economy and workers. America’s businesses need a fair and level playing field to compete in China, enabling business to create jobs and raise wages here at home. Business leaders support the pursuit of a comprehensive strategy focused on the elimination of harmful Chinese trade practices.
“Business Roundtable also opposes the Administration’s misguided focus on temporarily reducing America’s trade deficit with China through goods purchases. To make lasting progress, the Administration should collaborate more with U.S. allies who have also been harmed by these practices to pressure China to implement tangible and enforceable reforms for the long term.”