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NFTC Outlines Impact of Tariffs on Chinese Imports on U.S. Business and Consumers

Washington D.C. - The National Foreign Trade Council (NFTC) today submitted comments to the Office of the United States Trade Representative (USTR) on the impact to U.S. business and consumers of proposed tariffs on Chinese imports resulting from USTR's Section 301 investigation.

"There is no denying that China engages in discriminatory trade practices, and our member companies fully recognize this fact,"
said NFTC President Rufus Yerxa upon submission of the comments. "China must change these practices if it wants to sustain a durable trade and investment relationship with the United States and other major economies."

"Premature unilateral tariffs on Chinese exports are a bad idea for the U.S. economy"
Yerxa continued. "Not only will these tariffs fail to address the problems that our companies encounter when doing business in China, but they will further alienate our allies and raise costs for U.S. businesses and consumers. Instead, we need to work with our closest trading partners to bring about meaningful, and more importantly permanent, changes to China's problematic trade practices. Only a sustained global effort based on American principles of fairness and respect for rules will succeed in influencing China's policies."
 
To read NFTC's comments, click here.
 
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About the NFTC

Serving America's Global Businesses Since 1914- The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules- based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.
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