U.S. companies blast Trump China tariff costs

[DonViejo]

Zachary Basu 1 hour ago

Hundreds of American businesses have testified in hearings hosted by the Office of the U.S. Trade Representative, hoping to shed light on the damaging effect tariffs on Chinese goods will have on the average American consumer.

The big picture: From "cradles to coffins," the 25% tariffs proposed by the Trump administration on $200 billion worth of Chinese goods will raise prices on a wide range of everyday items. And, many industry representatives argued, they will do little to curb China's unfair trade practices.

The backdrop: The hearings were similar to those hosted by the USTR when it was considering tariffs on $50 billion worth of Chinese goods, which Trump ultimately chose to implement. But this latest round would affect a far greater cross section of consumer goods.

23% of the U.S. imports that would be subject to this round of tariffs are consumer goods, according to the Peterson Institute for International Economics.

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https://www.axios.com/companies-consumer-costs-china-trump-tariffs-6c183b02-2bfe-48c0-93b0-fc3c19938a86.html