General

The American Chamber of Commerce clearly pointed out that high tariffs tend to push up domestic prices and increase costs for consumers and businesses.

u3000u3000The first Chinese dollar held a video summit today (16th). On the eve of the summit, 24 U.S. chambers of commerce and industry associations recently sent a letter to high-level U.S. government trade officials, urging the White House to reduce tariffs on Chinese goods and expand the scope of import tariff exemptions in order to restore the competitiveness of U.S. companies.

In this letter to U.S. Trade Representative Katherine Tai and Treasury Secretary Janet Yellen (Janet Yellen), they urged the Joe Biden government to remove tariffs (to China) and demanded “immediately Action to substantially expand the tariff exemption program and provide Americans with additional relief."

u3000u3000 "(Tariffs) continue to cause disproportionate economic harm to American businesses, farmers, workers, and families." The non-profit trade organization, the US-China Business Council (USCBC), which leads and represents more than 200 US companies, said.

A total of 24 business organizations jointly named in the letter, including the US-China Business Council, the American Association of Importers and Exporters (AAEI), the American Chamber of Commerce (USCC), the American Soybean Association (ASA), and the American Apparel and Footwear Association (AAFA). ), the National Foreign Trade Council (NFTC), the American Semiconductor Industry Association (SIA) and other important organizations.

In the letter, more than 20 business organizations specifically mentioned that they agree with the recent remarks made by US Treasury Secretary Janet Yellen that tariffs tend to push up domestic prices and increase costs for consumers and businesses, which means lowering costs. Tariffs will have the effect of "dampening domestic inflation in the United States." These organizations stated that their specific recommendations are designed to help the United States focus on its own trade policies, which will improve US-China trade relations and benefit American workers, farmers, businesses, and families.