In Washington, D.C., business leaders have spent a third day lobbying the U.S government over a new round of tariffs that would escalate the trade war with China. The proposed duties would effectively tax half of China’s exports to the United States. But the hearings also take place amid renewed trade talks between the two countries.
CGTN’s Owen Fairclough has more.
From beer to boats, business leaders descending on D.C. for a third day state their cases for and against ramping up tariffs on China.
They’re among more than 300 witnesses telling the government why they think imposing tariffs on another $200 billion of Chinese imports will be good or bad for business – in both countries.
“It’s nuts. I don’t know how they’re going to be able to process and digest so many intricate products and categories,” said Bikram Singh, President and CEO of NewAge Casting.
“I feel strongly about the Chinese tire industry and the role it plays in the U.S. market. They represent 40 percent of the tires sold in the U.S. That is a huge number and there is no other market in the world that can satisfy that demand,” said Walter Weller, vice president of China Manufacturers Alliance.
These tariffs would take effect in late September and hit consumer products that until now, have largely been spared.
There are already more tariffs on the way right now. On Thursday the Trump administration is expected to add an extra 16 billion of duties on top of $34 billion already in effect – all designed to pressure China into stopping what the U.S. calls unfair trade practices. China denies this.
And yet even as this trade war is poised to escalate, the two sides are at least resuming talks they abandoned months ago.
Chinese Vice Minister of Commerce Wang Shouwen is in Washington DC for low level talks with U.S. officials.