Businesses Speak Out Against China Tariffs

One week after news broke that China and U.S. are expected to renew trade talks, executives from nearly 400 businesses have descended on Washington to speak out against additional tariffs.

The New York Times interviewed some of the executives attending the six-day hearing, which was originally scheduled for three but extended to accommodate the larger-than-expected turnout. 

The newly imposed tariffs on Chinese goods are already affecting the prices of a range of everyday consumer products, including bicycles, handbags, couches and kitchen appliances, and businesses are worried that any further escalation will do more harm than good to the economy.

“We’re supportive of the president’s desire to protect U.S. businesses, continue economic growth and bring jobs to the U.S.,” Jim Day, Vice President at the ’47 Brand hat company told the Times. “Our position is this proposed tariff increase would do the opposite.”

The U.S. has imposed tariffs on $34 billion worth of Chinese goods, and a new round of tariffs on an additional $16 billion worth of goods is expected to go into effect on Thursday.

Read the full article at nytimes.com.