Over 600 Companies Sign Letter Supporting Trump’s Tariffs on China
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June 22, 2019Over 600 U.S. companies have signed a letter in support of President Trump’s tariffs on China.
“On behalf of the undersigned American companies and the millions of workers we employ, we are writing to offer our support to you and your efforts to resolve the trade imbalance between the U.S. and China. For decades, China has been taking advantage of the U.S., and we stand firm with you and your agenda to see that America gets a better deal,” the letter addressed to the president stated.
“Many in the media and those self-interested in China have argued that Americans are bearing the cost of these tariffs. That is simply, false. China is bearing the burden of these tariffs. China has had to lower its prices, and they are experiencing fewer exports, lower profits, and lower tax revenue as a result of the tariffs. Additionally, we will see the Chinese economy experience a slower rate of growth and employment in the future,” the letter continued.
“No longer should America play second fiddle to China. It is important we stand united behind this agenda, and put country over political differences. America’s national security and economy are at stake and we offer this letter as support for your tariffs on China,” the letter concluded.
The letter will be presented at a hearing at the Office of the United States Trade Representative.
Trump’s use of tariffs has been controversial, with many claiming the tariffs will be detrimental to the U.S. economy. Earlier this year, 173 footwear companies signed a letter claiming the tariffs would be “catastrophic for our consumers, our companies and the American economy as a whole.” Other large companies such as Apple have also come out against the tariffs.
It’s nice to see American businesses supporting President Trump’s agenda. I’ve been fairly lukewarm on the whole tariff situation, but Trump is a savvy negotiator and it does seem like his use of tariffs, or threat of tariffs, is helping him to leverage other countries in favor of U.S. interests. What do you think?
