Companies and trade groups are about to get their say on the wisdom of US tariffs on an additional $300 billion worth of Chinese exports.
The US Trade Representative’s office will hold public hearings on the potential tariffs starting Monday. The hearings are scheduled to stretch into next week.
President Donald Trump has threatened further tariffs on Chinese exports as the trade war between Washington and Beijing heats up. The round currently under debate would include toys, clothes, shoes, appliances and televisions.
Last month, the Trump administration increased tariffs to 25% from 10% on $200 billion worth of Chinese goods.
More than 600 companies and industry trade associations — including Walmart, Costco, Target, Gap and Levi Strauss — wrote to the White House last week urging Trump to end the ongoing trade fight.
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“We know firsthand that the additional tariffs will have a significant, negative, and long-term impact on American businesses, farmers, families, and the US economy,” the companies said in the letter.
Chinese companies are suffering as well. Huawei, the Chinese phone and telecoms equipment giant, said Monday that a US export ban will force the company to miss revenue forecasts by about $30 billion over the next couple of years.
Trade war tariffs could drive up costs for iPhones, consumer electronics
