Page 16 - The South China Business Journal

C. Today
Tariff War
After months of
mounting tensions,
the trade war has suddenly
gotten very real.
Last week, a wave of
steep retaliatory tariffs
was unleashed against $75
billion of U.S. exports.
These tariffs are being
levied by other countries
on U.S. merchandise
exports in response to
U.S. tariffs on steel and
aluminum and, in the case
of China, tariffs the United economy, risks alienating
States levied on $34 billion many of our closest allies,
14 AmCham South China
of importsfrom China on and does not effectively The U.S. Chamber is
July 6. address legitimate trade working overtime to build
concerns such as those awareness of the costs of
U.S. agricultural products the business community these actions. Last week,
and many manufactured has with regard to China’s we launched a new website
goods exports are the top industrial policies. – www.thewrongapproach.
targets for retaliation. com – presenting state-
And tariffs specific data on the
The U.S. Chamber are, of course, impact of these tariffs
of Commerce argued a tax – one on American workers,
strenuously against the paid not by farmers, and consumers.
initial U.S. tariffs. foreigners but
Imposing these tariffs by Americans. The site compares the
on our best customers retaliatory tariff lists of
threatens the U.S. Canada, Mexico, the EU,
and China with Commerce
Department data on state