WASHINGTON, DC, September 12, 2019 – The US-China Business Council (USCBC) applauds President Trump’s announcement to delay the scheduled October 1 tariff increase on $250 billion worth of imports from China. We hope this announcement, combined with other confidence-building measures from both governments, will create the conditions necessary for productive trade negotiations and end the cycle of tit-for-tat retaliatory actions.
“Tariffs are a tax on our businesses and consumers—the impact on supply chains and company confidence is clearly hurting the economy,” said USCBC President Craig Allen. “Unilateral imposition of tariffs makes US companies less competitive in the global arena.”
“We urge both sides to work toward eliminating tariffs, realize the concrete progress that is possible today, and build momentum for longer-term negotiations on the most challenging issues.”