Published: Tue, June 18, 2019
Global News | By Blake Casey

United States businesses oppose tariff hikes, stress China's irreplaceable role in supply chain

United States businesses oppose tariff hikes, stress China's irreplaceable role in supply chain

These companies warn that the additional tariffs would drive up prices for consumers, squeeze profits and leave US companies at a competitive disadvantage to foreign rivals that aren't subject to higher taxes on the components they buy from China.

New Balance will join a chorus of opposition to a proposed new round of tariffs on Chinese goods at hearings this week.

U.S. Trade Representative Robert Lighthizer is sure to hear more complaints when he goes to Capitol Hill.

"Currently there's no country manufacturing metal baby gates outside of China", Flannery said.

The higher tariffs would affect everything from apparel and footwear to fireworks and cellphones, and was likely to raise prices for United States consumers, the companies warned in submissions ahead of the start of seven days of public hearings today.

"That 25% is just going to whack us on the head", said Rick Helfenbein, president of the American Apparel and Footwear Association.

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New Balance, which has previously backed President Donald Trump's trade policies, submitted a letter to the USTR strongly opposing President Trump's latest threat to expand tariffs on China.

According to an estimate by Trade Partnership Worldwide LLC., the USA imposition of 25 percent levies on an additional $300 billion of Chinese imports would result in the loss of more than 2 million American jobs. "Quality is controlled and the best spinners and dyers of cashmere raw material, yarn, are located in that part of the country", she told Xinhua after the testimony. "But I don't see that there's a big uptick in companies actually departing". The two sides appear to have reached an understanding on 90% of the issues after 11 rounds of talks; resolving the remaining issues will require more political will than time.

Many witnesses on Monday said that the tariffs were misplaced as there is no high-end technology in their businesses and industries.

Stackpole, whose organization represents companies that altogether supply 90 percent of all plumbing products to American households, stressed that plumbing products are not sophisticated products, adding that additional tariffs would erode USA brands' global competitiveness.

The company planned to open a sixth American factory later this year, but proposed new tariffs on China could prevent New Balance from being able to import the necessary shoe-making equipment.

Talks with Beijing broke off last month after the USA accused China's leaders of reneging on provisions of a tentative trade agreement. The hearings will continue for another six days till early next week, during which additional hundreds of witnesses are expected to make similar pleas. "For Americans, the cost of these and previous tariffs will be real".

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