U.S. business groups are calling for an exclusions process for the latest round of U.S. tariffs on $200 billion in Chinese goods, but sources say exclusions are not expected at least for the initial 10 percent duties that go into effect next week.
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Joshua Bolten, president and CEO of the Business Roundtable, on Monday refuted President Trump's assertion that his tariff-rich approach to trade was improving the economy and said nearly all of the industry group's members are opposed to the administration's use of trade restrictions.
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China's request to retaliate against the U.S. after winning a World Trade Organization dispute over the way the U.S. calculates antidumping duties has been referred to an arbitrator, prompting a discussion at Friday's Dispute Settlement Body meeting about the DSB's role – and the continued U.S. push to block Appellate Body appointments.
A member of China’s National People’s Congress said on Monday that the World Trade Organization should move away from its consensus-based approach and focus instead on the pursuit of plurilateral agreements to spur progress.
The toughest issue facing U.S. businesses in China is the escalating trade brawl between the U.S. and Beijing, according to a new survey from the U.S.-China Business Council.
While the Trump administration maintains that new Section 301 tariffs on Chinese goods will have a “negligible” impact on the economy, legislators and industry groups are sounding the alarm, saying the tariffs will foist higher prices on consumers and hit producers hard.
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FEATURED STORY
President Trump on Monday directed the Office of the U.S. Trade Representative to impose 10 percent tariffs on $200 billion worth of Chinese imports, with plans to boost them to 25 percent in 2019, according to senior administration officials.