On June 13, 661 U.S. companies and trade associations, including PPAI, signed on to a letter to President Trump urging a swift resolution to the trade dispute with China, noting that tariffs are hurting American businesses and consumers. The letter, sent by Tariffs Hurt The Heartland, a national campaign opposing tariff escalation and advocating for an end to the trade dispute, comes as the Office of the United States Trade Representative (USTR) prepares to hold hearings, June 17-25, on the proposed 25 percent tariff on an additional $300 billion in Chinese imports.
The coalition letter states that the coalition and the letter’s signatories agree the U.S.’s trading partners must abide by global trade rules and support the administration’s efforts to address unfair trading practices, including intellectual property violations, forced technology transfer and more. And while they encourage the administration to negotiate a strong deal with China that addresses longstanding structural issues, improves U.S. global competitiveness and eliminates tariffs, they believe this goal can be reached without taxing Americans.
The letter reads, “We remain concerned about the escalation of tit-for-tat tariffs. We know firsthand that the additional tariffs will have a significant, negative and long-term impact on American businesses, farmers, families and the U.S. economy. Broadly applied tariffs are not an effective tool to change China’s unfair trade practices. Tariffs are taxes paid directly by U.S. companies … not China. According to Trade Partnership Worldwide LLC, 25 percent tariffs on an additional $300 billion in imports (combined with the impact of already implemented tariffs and retaliation) would result in the loss of more than two million U.S. jobs, add more than $2,000 in costs for the average American family of four and reduce the value of U.S. GDP by one percent. Furthermore, we have seen repeatedly that tariff increases and uncertainty around these trade negotiations have created turmoil in the markets, threatening our historic economic growth.”
The USTR list of $300 billion in Chinese products is the fourth action taken under its Section 301 investigation, and encompasses all remaining products imported from China that do not currently receive additional Section 301 tariffs. Click here for an action alert PPAI has created to facilitate industry professionals’ efforts to reach out to the USTR and express their concerns regarding the tariffs, and how they will impact businesses in the promotional products industry.
