The letter addressed to Trump on March 18 warns that that potential tariffs on China would raise prices on consumer goods, kill jobs, drive down financial markets and be “particularly harmful” to U.S. consumers. “We urge the administration not to impose tariffs and to work with the business community to find an effective, but measured, solution to China’s protectionist trade policies and practices that protects American jobs and competitiveness”, the industrial groups say in the letter.

The tariffs are said to be aimed at Chinese information technology, telecoms and consumer products in an attempt to force changes in Beijing’s intellectual property and investment practices. Trade associations publicly opposing to the tariff plan include the USHSLA, the U.S. Chamber of Commerce, the National Retail Federation and the Information Technology Industry Council.

Source: Reuters