Saturday Feb 4, 2023
Saturday Feb 4, 2023

US businesses getting anxious as Trump's China tariffs remain


Nepalnews
2021 Jun 09, 12:11, WASHINGTON
In this February 22, 2021, file photo, a woman wearing a face mask to help curb the spread of the coronavirus sits near a screen showing China and US flags as she listens to a speech by Chinese Foreign Minister Wang Yi at the Lanting Forum on bringing China-US relations back to the right track, at the Ministry of Foreign Affairs office in Beijing. The Biden administration has added seven Chinese supercomputer research labs and manufacturers to a US export blacklist in a spreading conflict with Beijing over technology and security. (Photo via AP)

 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.

"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." 

Joe Biden US National Retail Federation Donald Trump US businesses trade policy US tariffs
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