Over 600 U.S. Companies Send Letter to Trump Seeking To End Trade Dispute with China
14, 2019 (EIRNS)—In a June 13 letter, 661 U.S. companies urged President Donald Trump, and his U.S. Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin, and Commerce Secretary Wilbur Ross to resolve the trade dispute with China, saying tariffs are hurting American businesses and consumers. This letter is the latest of many sent to the Trump Administration by “Tariffs Hurt the Heartland,” the national campaign against tariffs supported by more than 150 trade groups representing agriculture, manufacturing, retail and tech industries, Reuters reported today.
The letter also said that whereas “We agree that our trading partners must abide by global trade rules. ... We believe this goal can be achieved without taxing Americans.” Broad tariffs are ineffective, the letter said, and “We know firsthand that the additional tariffs will have a significant, negative and long-term impact on American businesses, farmers, families and the U.S. economy.”
Tariffs Hurt the Heartland commissioned a report in February that showed the U.S. tariffs and China’s retaliation would lead to the loss of more than 2 million U.S. jobs, increase costs for the average American family by almost $2,300, and cut U.S. GDP.