WASHINGTON, DC, July 11, 2018 - In response to Tuesday's announcement by the Office of the US Trade Representative of its plans to move forward with a 10 percent tariff on an additional $200 billion worth of Chinese imports, USCBC President John Frisbie released the following statement:
"Enough is enough. The United States and China need to stop the needless escalation of a tariff war and start working on solutions that will address the real concerns that American companies have about China’s intellectual property protection and technology transfer policies. Those are the right issues to focus on, but tariffs are the wrong way to solve them. Business wants solutions, not sanctions.
"The cumulative tariffs that both countries are beginning to implement will harm each other’s economies and jobs. No one wins in that scenario, we both lose."
In the absence of a negotiated outcome, tariffs on $250 billion in Chinese imports will be in place by mid-September.