Fourthly, the tariff measures lead to barriers to US exports to China. The 2019 State Export Report, published by the US-China Business Council on May 1, 2019, stated that in the ten years from 2009 to 2018, US exports to China supported over 1.1 million jobs. The Chinese market continues its importance to US economic growth. Forty-eight states of the US have increased their goods exports to China during the last decade – 44 of them by double digits – while in 2018, when economic and trade friction...
USCBC in the News
The US-China Business Council would welcome an agreement to restart negotiations because that would help reduce business uncertainty, especially if there is a deadline to reach a deal, the group’s vice president Erin Ennis said. “At this point, we’ve got 25 percent tariffs on $250 billion worth of imports. The longer those tariffs are in place, with no plan of action to address them, the more damage is being done,” Ennis said.
“We are hearing from US manufacturers and US retailers that, if ‘List 4’ is implemented, prices will go up in the United States. That will have an impact on how much of those products are sold, which will affect the bottom line of retailers and those manufacturers. So, we do anticipate there will be both a jobs and sales impact,” Erin Ennis, vice president of the US-China Business Council said.