City
Epaper

Trump urged to reach 'phase one' trade deal with China

By IANS | Updated: December 12, 2019 09:55 IST

An American trade coalition has urged President Donald Trump to reach a "phase one" deal with China in an effort to resolve the ongoing trade war between the US and China.

Open in App

"We urge you to reach a Phase One deal with China and take the necessary steps to resolve the ongoing trade dispute," the Americans for Free Trade, a coalition of more than 150 associations, said in a letter to Trump on Wednesday.

The coalition strongly encouraged the administration to suspend implementation of the so-called "Tranche 4B tariffs" on Chinese goods scheduled for December 15 if the "phase one" deal was not finalized before then.

The Trump administration in August announced a plan to put 15 per cent tariffs on billions of US dollars in Chinese-made consumer goods on December 15, known as the "4B" list of goods.

"We think it is incredibly important for the ongoing negotiations to be allowed to continue without the specter of new tariffs taking effect before a deal is signed," the letter said, adding that the US administration has previously delayed those tariffs.

"As you noted when the Tranche 4B tariffs were announced, you delayed implementation of those tariffs specifically to avoid harming American consumers over the holidays. This delay should be extended until a deal is reached," said the letter.

China is ready to work with the US side to properly address each other's core concerns on the basis of equality and mutual respect and strive to reach a "phase one" deal, which serves the interests of both countries and the rest of the world, China's Ministry of Commerce spokesperson Gao Feng said last month.

The letter came after anti-tariff campaign group, Tariffs Hurt the Heartland said on Monday that American consumers and businesses paid an additional $42 billion from February 2018 through October 2019 as a result of Washington-initiated trade disputes.

Citing a research by Trade Partnership Worldwide, LLC, an international trade and economic consulting firm, the coalition said the US Section 301 tariffs on Chinese goods, along with the ongoing Section 232 tariffs on steel and aluminium and retaliation, have cost the average American family of four nearly $800 this year and have shaved 0.4 per cent off the GDP.

( With inputs from IANS )

Tags: uschinaHeartland
Open in App

Related Stories

InternationalFlorida Shooting: US Rapper Offset Injured at Seminole Hard Rock Hotel & Casino in Hollywood; Two Detained

InternationalMajid Khademi Death: IRGC Intel Chief Killed in US-Israel Attack, Confirms Iran

International'Illegal Military Operations': China Accuses US and Israel of Strait of Hormuz Crisis

NationalDelhi Government Orders Removal of 2.5 Lakh Chinese CCTV Cameras Over Security Concerns

InternationalChina: Four Dead, Nine Injured After Explosion at Highway Tunnel Construction Site in Chongqing

International Realted Stories

InternationalUS secures $313K settlement over bias against American workers in job ads

InternationalEast Providence Fire: Several Injured in Explosion at Aspen Aerogels Manufacturing Plant in Rhode Island

InternationalTrump NATO exit illegal, warns US lawmaker

InternationalHindu American Foundation moves court over caste, Hinduism row

InternationalJim Whittaker, First American To Reach Summit of Mount Everest, Dies at 97