About two dozen US business associations have urged the Biden administration to cut tariffs on Chinese goods to provide Americans with relief amid mounting inflationary pressures.
“Tariffs introduced in recent years continue to disproportionately cause economic damage to US businesses, farmers, workers and families,” the business associations, led by the US-China Business Council, said in a letter to US Trade Representative Katherine on Friday. . Tai and Treasury Secretary Janet Yellen.
US importers have paid more than $110 billion for so-called “Section 301” tariffs on Chinese goods, of which some $40 billion were set during the Biden administration, according to the letter.
“These costs, compounded by other inflationary pressures, place a significant burden on U.S. businesses, farmers and families trying to recover from the effects of the pandemic,” the letter said.
“We agree with Secretary Yellen’s recent comments that tariffs tend to raise domestic prices and raise costs for consumers and businesses due to higher cost inputs and that lowering US and Chinese tariffs would reduce inflation. can help reduce,” said the letter, urging the Biden administration to move toward the elimination of Section 301 tariffs on Chinese goods.
“We also call for immediate action to significantly broaden the tariff exclusion process to provide additional relief to Americans,” the letter said.
The other 24 business associations that signed the letter are the U.S. Chamber of Commerce, the Business Roundtable, the National Retail Federation, the American Farm Bureau Federation and the Semiconductor Industry Association.
Americans for Free Trade, a coalition of more than 150 trade associations united in the fight against tariffs, recently urged the Biden administration to remove tariffs on imports from China amid ongoing inflation concerns.
“While our nation continues to worry about rising prices and supply chain obstacles, it is time for Ambassador Tai and other members of the Biden administration to recognize that letting go of the previous administration’s failed trade policies is the problem. will only make things worse,” the Americans said. for Free Trade spokesman Jonathan Gold said in a statement earlier this month.
“In the interest of Americans everywhere, it is time to end the trade war with China,” Gold said.