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            september 23, 2019

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'Far too great a gamble'


The president and CEO of the National Retail Federation, Matthew Shay, has criticised the Trump administration's list of tariffs on US$300 billion on Chinese goods as "far too great a gamble for the US economy".
"We support the administration's efforts to deliver a meaningful trade agreement that levels the playing field for American businesses and workers.
"Slapping tariffs on everything US companies import from China - goods that support US manufacturing and provide consumers with affordable products - will jeopardise American jobs and increase costs for consumers.
"Taxing Americans on everyday products like clothes and shoes is not the answer for holding China accountable. Working with our allies who share the same concerns and immediately re-joining TPP are more effective ways to put pressure on China without hurting hardworking Americans. We urge the US and China to get these critical negotiations back on track. Both sides will lose in a full-blown trade war, and the global economy will suffer," Mr Shay added.
A study commissioned by Tariffs Hurt the Heartland and prepared by Trade Partnership estimated that imposing tariffs of 25 per cent on all remaining imports from China, combined with the impact of retaliation, would jeopardise more than two million American jobs, cost the average US family of four $2,300 each year and reduce the value of US GDP by one per cent, according to the American Journal of Transportation.

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