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Trump tariffs prompt rising fear, anger from GOP, business | TheHill

posted onJuly 12, 2018
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Article snippet: Business groups and congressional Republicans expressed increasing frustration on Wednesday with MORE’s escalating trade fight with China.  They say it’s time for the U.S. and China to get back to the negotiating table and hammer out a deal that would stop the steady stream of tit-for-tat steep tariffs.  A final decision on the tariffs will be made sometime after Aug. 30. The latest list of targeted Chinese imports, which was released by the Office of the U.S. Trade Representative (USTR) on Tuesday night, comes on the heels of the U.S. move to levy a 25 percent tariff on $34 billion in Chinese imports.  China immediately struck back with retaliatory tariffs on $34 billion of U.S. goods. The U.S. and China each have said they will impose tariffs on another $16 billion of each other’s goods in the coming months, adding up to $50 billion total by each country.  The fight drew ire from technology, manufacturing, agriculture and retailing groups, which argue that Trump’s tariffs will hurt U.S. consumers and businesses.  “The last thing America’s manufacturing workers need is an escalating trade war,” said Jay Timmons, president and CEO of the National Association of Manufacturers. “America has China’s attention, so instead of more tariffs, the U.S. and China should immediately begin working toward a fair, bilateral, enforceable, rules-based trade agreement to end China’s market-distorting activities,” Timmons said. “We can’t afford to wait any longer.” The Trump admi... Link to the full article to read more

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