NAM Posts Statement on China Tariffs

WASHINGTON, D.C. — National Association of Manufacturers President and CEO Jay Timmons recently released the following statement on the Trump administration’s 10 percent tariffs on $300 billion worth of Chinese goods:

“Manufacturers acknowledge that China cheats, and we were the first to call for a rules-based, enforceable trade agreement with China to end their unfair and harmful trade practices. The administration’s latest tariff action will certainly get their attention, but it also has the attention of manufacturing workers in the U.S. and their families, who are feeling the negative impact of the current tariffs and will be made even less competitive with this new tax on trade. We trust the administration has considered all of these short-term economic down-sides as they reach for long-term improvement.

“Manufacturing optimism took a substantial hit in our latest survey, driven largely by uncertainties in trade policy. If the U.S. economy slows, the world economy will follow quickly, and China’s people will suffer mightily as well. China should be willing to conclude an enforceable, bilateral trade agreement that ends the uncertainty and levels the playing field for all manufacturers.

“The world is simply not willing to let China continue to distort markets, steal intellectual property and force transfers of technology and data, among other damaging practices. It’s time for an agreement to be reached.”