WASHINGTON, D.C. — U.S. Chamber of Commerce President and CEO Thomas J. Donohue issued the following statement regarding the administration’s decision to impose $50 billion of tariffs on Chinese imports:
“The U.S. Chamber supports the administration’s ongoing efforts to deal with China’s unfair trade practices and policies. However, we continue to believe that the use of tariffs puts all the burden on American companies and consumers. The administration’s decision to impose tariffs on $50 billion worth of Chinese products is in fact a tax on American consumers and will undermine the competitiveness of American companies, just as the administration’s steel tariffs have dramatically raised prices on steel in the United States.”
Donohue was recently interviewed on CNBC’s “Squawk Box” where he discussed the U.S.-China economic relationship and reiterated the U.S. Chamber’s position for opening China’s markets through systemic reforms rather than imposing tariffs.
The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations. Its International Affairs division includes more than 80 regional and policy experts and 25 country- and region-specific business councils and initiatives. The U.S. Chamber also works closely with 117 American Chambers of Commerce abroad.
Source: U.S. Chamber of Commerce