Additional tariffs estimated to have cost Americans 42 bln USD

Craig Allen, president of the US-China Business Council, recently told reporters that American businesses do not support the use of tariffs as a trade negotiation tactic, and “we believe that tariffs are not a useful way to resolve the problems that we have.” Allen, whose organization represents more than 200 US companies that do business with China, said he hoped the United States and China would soon reach a “meaningful” phase-one agreement that will “address some of the structural issues” and “remove as many tariffs as possible.”