Published: Thu, July 05, 2018
Markets | By Otis Pena

US Chamber says $75 bn in US exports subject to counter-tariffs

US Chamber says $75 bn in US exports subject to counter-tariffs

The Chamber, the nation's largest business lobbying group and a traditional ally of Trump's Republican Party, said the White House is risking a global trade war with its push to protect United States industry and workers with tariffs. Of the 10 states facing the biggest financial losses, seven voted for Trump in the presidential election, according to the report.

China has warned that it won't yield to Trump's pressure. But most other states have far more at stake.

Roughly half of the circuit boards Moog use in their instruments come from China, Moog say that they do try to source their boards from the USA where possible, but it results in roughly 30% higher costs, so its not possible to source exclusively domestically. Chamber of Commerce (.pdf), 579,300 are supported by global trade and approximately 6,160 companies export goods from locations in the state. The initiative is also enlisting 2,000 local and state chambers of commerce to call on Congress to review the "real costs" of the tariffs, Murphy said.

TARIFFS LOOM: The U.S. will start imposing a 25 percent tariff on $34 billion in Chinese imports this Friday.

The Trump administration has been recently slapping tariffs on other countries, claiming that the U.S. was "being treated unfair on trade", raising grave concerns of a global trade war.

Mr Trump is now mulling tariffs of up to 20% on all cars and vehicle parts made in the EU. A result is that US manufacturers will have to pay more for parts and equipment, thereby putting them at a competitive disadvantage to foreign rivals.

World Cup big guns primed for last-eight battles
Fellow former Three Lions star Alan Shearer simply said: "Yesssssssss boys yeeesss yes yes #RUSSIA_2018 @ England ". However, despite those positive numbers, England only mustered two efforts on target compared to Colombia's four.

In the European Commission's written response to the Trump administration's investigations into vehicle and auto part imports, it warns that the effect on US exports could be huge, with 19 per cent of USA exports hit.

The Reuters report notes that China's tariffs against the usa, imposed in retaliation to Trump's enforcement of duties on Chinese goods, have already negatively affected BMW.

We reported on Sunday that Canada has slapped the United States with $13 billion in tariffs.

On Tuesday, Trump again slammed motorcycle maker Harley-Davidson on Twitter for moving some of its operations overseas to try to evade retaliatory tariffs on the motorcycles it ships to Europe. The Trump administration suspended its tariffs after Beijing agreed to increase its purchases of US goods, especially in agriculture and energy.

Yet Wilbur Ross, Trump's commerce secretary, insisted the White House will not blink even if investors across the world flee equity markets.

European envoys say they already sensed a greater urgency from China in 2017 to find like-minded countries willing to stand up against Trump's "America First" policies.

Like this: