U.S. Chamber Welcomes China Tariff Agreement, Continues to Warn About Economic Impact of Record High Tariffs

WASHINGTON – Following trade talks between the U.S. and China, John Murphy, Senior Vice President at the U.S. Chamber of Commerce, issued the following statement: 

“The U.S. Chamber welcomes news that both China and the U.S. will pull back from embargo-level tariffs and establish a new framework to address ongoing trade relations and disputes.  We’re also pleased that China will eliminate or pause the non-tariff trade restrictions recently put into place that were creating barriers for American businesses.

“While any agreement that reduces tariffs is good news, it is important to note that even with this China agreement, tariffs are much higher overall than they were at the beginning of the year, and many businesses, especially small businesses, are dealing with growing costs and disruptions. 

“We continue to urge the Trump Administration to prioritize tariff relief for businesses and families, and to address foreign trade barriers as it negotiates with other countries. As these negotiations continue, the Chamber renews its call for tariff exclusions for small businesses, for products not produced in the U.S., and for companies facing imminent layoffs of American workers as a result of tariffs

“With respect to China, there’s still work to be done to open the Chinese market for U.S. manufacturers, farmers and businesses of all sizes, as well as the ongoing need to address U.S. national security concerns, and we will be closely monitoring that progress.”