Washington D.C. – National Foreign Trade Council (NFTC) President Rufus Yerxa today released the following statement following the announcement by the President that the United States will place additional tariffs on roughly $200 billion of imports from China.
“The NFTC has joined more than 80 industry Associations this week in expressing grave concern over U.S.-China trade relations and the adverse impact of rapid tariff escalation on American businesses, farmers and consumers.
“While we continue to support the objective of pushing China towards better norms in investment, intellectual property and other areas, we believe that the administration’s current approach relies on the faulty assumption that a tariff war is easy to win and that tariffs will make America stronger.
“Continuing to rely on tariffs as the basis of our trade policy risks isolating the U.S. from world trade just at a time when we need to be expanding our exports and our commercial relationships with countries around the world.”
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