American Businesses Want to Restart US-China Trade Talks

Source: WSJ

Over 30 influential American business groups called on the government to restart trade talks with China, seeking lower tariffs on imports which hamper economic growth.

• The business groups proposed in a letter addressed to US Trade Representative Katherine Tai and Treasury Secretary Janet Yellen.
• The firms believe China has already complied with benchmarks and commitments which warrant trade negotiations between the two parties.
• Businesses want a “worker-centered trade agenda” that accounts for the costs both countries impose on American firms and remove taxes that harm US interests.
• American firms want the tariffs on Chinese goods to be cut down as US imports continue to pay. This was maintained to ensure China fulfills its commitments under the 2020 pact.
• The groups include the US Chamber of Commerce, the Business Roundtable, the National Retail Federation, the American Farm Bureau Federation, and the Semiconductor Industry Association.
• Spokespersons for the Trade Representative and Treasury did not immediately comment on the matter.