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US companies' message to Trump: Don't expand China tariffs

2 years 3 months 3 days ago Monday, June 17 2019 Jun 17, 2019 June 17, 2019 4:59 AM June 17, 2019 in News
Source: Associated Press

WASHINGTON (AP) - What happens if President Donald Trump carries out his threat to impose tariffs on the remaining $300 billion in Chinese goods that he hasn't already hit with 25 percent import taxes?

The administration, in the midst of the trade war it began with Beijing, had asked for comments on its plan to extend 25 percent tariffs to everything China ships to the United States. Hundreds of businesses, trade groups and individuals have written to complain that the additional import taxes would drive up prices for consumers, squeeze profits and leave U.S. companies at a competitive disadvantage to foreign rivals that aren't subject to higher taxes on the vital components they buy from China.

Some will appear in person to air their grievances in seven days of hearings in Washington that begin Monday.

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