US business bodies urge reduction in tariffs on Chinese goods

"Tariffs put in place over the last several years continue to disproportionately cause economic harm to U.S. businesses, farmers, workers and families," the business associations said last week.

American importers have paid over $110 billion for the Section 301 tariffs on Chinese goods, of which about $40 billion has been assessed during the Biden administration, according to the letter.

"These costs, compounded by other inflationary pressures, impose a significant burden on American 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 increase domestic prices and raise costs to consumers and businesses due to higher cost inputs and that lowering US and Chinese tariffs could help ease inflation," the letter said, urging the US administration to work toward removal of the Section 301 tariffs on Chinese goods.

"We also request immediate action to significantly broaden the tariff exclusion process to provide additional relief to Americans," Chinese media reported quoting the letter.

The other 24 business associations that signed the letter include the US Chamber of Commerce, the Business Roundtable, the National Retail Federation, American Farm Bureau Federation and the Semiconductor Industry Association.

Americans for Free Trade, a coalition of more than 150 industry associations that are united in the fight against tariffs, has also recently urged the US administration to remove tariffs on imports from China amid continued concerns over inflation.

Fibre2Fashion News Desk (DS)