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United Kingdom trade chief says Trump tariffs upsetting allies, not China

United Kingdom trade chief says Trump tariffs upsetting allies, not China

The United States Chamber of Commerce and 44 other associations are urging President Donald J. Trump not to impose sweeping tariffs in response to China's trade practices, warning the action would "trigger a chain reaction of negative consequences for the U.S. economy".

Reuters first reported on the US$60 billion in tariffs last week. The decision on further action against China is expected soon, perhaps this week.

Among the retail giants to sign the letter were Walmart, Costco, Target and Dollar Tree. As you continue to investigate harmful technology and intellectual property practices, we ask that any remedy carefully consider the impact on consumer prices.

The letter ends with comments on working with the Government on a pro-growth agenda "that benefits hard working American families".

Markets rebound MORE and U.S. Trade Representative Robert LighthizerRobert (Bob) Emmet LighthizerMORE, who are closely involved in the development of the tariff plan and what countries and products will be included.

The letter marks the latest in a growing rift between Trump and the business community on trade policies, as the president has begun to take more aggressive steps he says are needed to protect domestic industry.

Syracuse outlasts Arizona State 60-56 to advance in the NCAA Tournament
Down two with 14 seconds remaining, the Sun Devils had possession of the final play in their First Four battle with Syracuse . The Bulls only have two players with over 30 minutes per game: Harris and Massinburg. "We come out every game ready to play".

Expectations of the anti-China tariffs have alarmed dozens of U.S. business groups, who warned on Sunday they would raise prices for consumers, kill jobs and drive down financial markets.

"We urge the administration to take measured, commercially meaningful actions consistent with global obligations that benefit USA exporters, importers, and investors, rather than penalize the American consumer and jeopardize recent gains in American competitiveness", the trade groups said in their letter.

The letter says that the groups agree that the administration is right to consider acting against China to protect U.S. intellectual property.

Worries about the potential for a US-China trade war and frustration over Trump's steel and aluminum tariffs are likely to dominate discussions during a gathering of G20 finance leaders in Buenos Aires this week.

The Trump administration is said to be preparing tariffs against Chinese information technology, telecoms and consumer products in an attempt to force changes in BeijingĀ“s intellectual property and investment practices. Instead the letter argues that the United States should work with trading partners in other countries which are also upset about China's practices, rather than going it alone. The practice, according to the White House's estimate, is costing US companies $30 billion a year in intellectual property loss.

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