U.S. Chamber of Commerce warns Trump against potential tariffs on China

Updated 2018-03-16 14:09:01 Xinhua

U.S. Chamber of Commerce, the largest business lobbying group in the country, on Thursday warned President Donald Trump not to impose sweeping tariffs on Chinese imports, as it would hurt American businesses and consumers.

"Tariffs are damaging taxes on American consumers," said Thomas J. Donohue, president and CEO of U.S. Chamber of Commerce, adding that tariffs could lead to "a destructive trade war" with serious consequences for the U.S. economic growth, job creation, and the livelihood of its consumers, merchants and farmers.

Donohue's warning came as the Trump administration is considering an annual tariff of 30 billion U.S. dollars against Chinese imports for China's alleged "unfair trade practices," according to media reports.

"Tariffs of 30 billion dollars a year would wipe out over a third of the savings American families received from the doubling of the standard deduction in tax reform," Donohue said, urging the Trump administration to work with the business community to resolve the concerns.

China hopes to address bilateral trade issues with the United States in a constructive manner and by making a bigger cake of cooperation, Chinese Foreign Ministry spokesman Lu Kang said Thursday.

"The two sides have properly resolved their trade differences in a constructive manner over the past 40 years. We believe the two countries can still settle their disputes through friendly negotiations, and we are ready to do so," the spokesman said.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58May 26 2018 00:17:15

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16May 26 2018 00:17:15

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18May 26 2018 00:17:15

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords