WORLD US businesses getting anxious as Trump's China tariffs remain: media

WORLD

US businesses getting anxious as Trump's China tariffs remain: media

Xinhua

15:00, June 09, 2021

WASHINGTON, June 9 (Xinhua) -- US businesses that called for new international trade policy are getting anxious as policy under President Joe Biden is closer to his predecessor Donald Trump's approach than expected, the Financial Times has reported.

The CMA CGM Marco Polo,an ultra-large container vessel with a maximum capacity of 16,022 twenty-foot equivalent units, passes under the Verrazzano-Narrows Bridge on May 20, 2021 in New York. (File photo: AFP)

"We're five months into this new administration, and we don't have a clear sense of what the China trade policy is yet," the Financial Times quoted Jon Gold, vice president at the US National Retail Federation, as saying.

"This is having a big impact on companies, many of whom are struggling to survive through COVID-19 and have the extra burden of the tariffs," Gold said, according to the report published on Thursday.

As the cost of US tariffs for companies buying from China has increased, more than 3,500 US companies, including Coca-Cola, Disney and Ford, have filed lawsuits against the Trump administration's tariffs on China.

"The tariffs are deeply unpopular with American consumers and businesses who bear the cost," said Doug Barry, spokesman for the US-China Business Council, a non-profit trade body. "Many tariffs remain in place with no indication of when or if they will be lifted."


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