Offbeat Largest US business group attacks Trump on tariffs

16:41  02 july  2018
16:41  02 july  2018 Source:   reuters.com

Trump threatens to impose 20 percent tariff on European cars

  Trump threatens to impose 20 percent tariff on European cars President Donald Trump said he plans to impose a 20 percent tariff on all cars imported from the EU unless the trade bloc soon removes import duties and other barriers to U.S. goods, escalating his global trade war. “Based on the Tariffs and Trade Barriers long placed on the U.S. and it great companies and workers by the European Union, if these Tariffs and Barriers are not soon broken down and removed, we will be placing a 20% Tariff on all of their cars coming into the U.S. Build them here!” Trump said in a tweet on Friday.European automakers declined on the news. BMW AG dropped 1.3 percent as of 4:56 p.m. in Munich.

Search for US Supreme Court Justice begins. Point of view. WASHINGTON (Reuters) – The U . S . Chamber of Commerce, the nation’s largest business group and customarily a close Trump has implemented billions of dollars in tariffs targeted at China, Canada, Mexico and the European Union

BEIJING — Chinese officials have warned that they will retaliate against American companies if President Trump imposes tariffs on China, an American business group said on “So perhaps some pressure will help get us more progress to a more balanced economic and commercial relationship.”

The U.S. Chamber of Commerce, the nation's largest business group and customarily a close ally of President Donald Trump's Republican Party, is launching a campaign on Monday to oppose Trump's trade tariff policies.

With some of America's tightest trading partners imposing retaliatory measures, Trump's approach to tariffs has unsettled financial markets and strained relations between the White House and the Chamber.

The new campaign, detailed first to Reuters, is an aggressive effort by the business lobbying giant. Using a state-by-state analysis, it argues that Trump is risking a global trade war that will hit the wallets of U.S. consumers.

China's Media Calls Trump Delusional

  China's Media Calls Trump Delusional China and Trump are waging a war of words.President Donald Trump’s decision to impose tariffs on imports from China is a “symptom of paranoid delusions,” China’s state-run media announced Friday as the two countries ramp up their threats of a full-scale trade war.

The business groups wrote a letter to Trump on Sunday acknowledging “serious concerns” regarding what they described as China’s theft of trade secrets and other practices and policies, but they urged a measured response that avoided tariffs .

In a letter to the White House, the groups said " we urge the administration not to impose tariffs and to work with the business community to find an Forty-five U . S . trade associations representing some of the largest companies in the country are urging President Donald Trump not to impose tariffs on

“The administration is threatening to undermine the economic progress it worked so hard to achieve,” said Chamber President Tom Donohue in a statement to Reuters. “We should seek free and fair trade, but this is just not the way to do it."

The Chamber, which has 3 million members, historically has worked closely with Republican presidents and praised Trump for signing business tax cuts in December. But mounting trade tensions have opened a rift with the president.

Trump has implemented billions of dollars in tariffs targeted at China, Canada, Mexico and the European Union, saying such moves are needed to offset trade imbalances.

Nations have begun retaliating. On Friday, Canada struck back at U.S. steel and aluminum tariffs, vowing to impose punitive measures on $12.6 billion worth of American goods until Washington relents.

Trump denies he's to blame for Harley-Davidson decision

  Trump denies he's to blame for Harley-Davidson decision President Donald Trump is denying that his trade policy is responsible for Harley-Davidson's decision to some motorcycle production overseas. The company says it's doing so because of tariffs it's facing in a trade dispute between the U.S. and the European Union. But Trump says that's an excuse.Trump says in tweets Tuesday that the company had already announced it was closing a Kansas City plant. Union officials have said those jobs are going to Thailand. Harley-Davidson has denied that.Says Trump: "That was long before Tariffs were announced. Hence, they were just using Tariffs/Trade War as an excuse.

The AFL-CIO, the largest labor union in the U . S ., praised Trump for the tariffs , as did Democratic Ohio Senator Sherrod Brown, who said "The response to Trump 's tariffs , from Congress, businesses , and abroad". "China retaliates against Trump tariffs with levy on US food imports". the Guardian.

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China is expected to impose a new 25-percent tax on soybeans in July. Mexico is adding duties to pork imports. The EU has targeted $3.2 billion in American goods exported to the 28-member bloc, including bourbon and Harley Davidson (HOG.N) motorcycles.

Pushing back on Trump, the Chamber based a state-by-state analysis on data from the U.S. Department of Commerce and government agencies in China, the EU, Mexico, and Canada.

Trump has previously been persuaded to back off of trade threats with the argument that states that backed him in the 2016 presidential campaign will be hard-hit.

For example, the Chamber said Texas could see $3.9 billion worth of exports targeted by retaliatory tariffs; Tennessee, $1.4 billion; and South Carolina, $3 billion.

Trump says China could face more than $500 billion in US tariffs .
Trump says China could face more than $500 billion in US tariffs|| 105253826First “34, and then you have another 16 in two weeks and then as you know we have 200 billion in abeyance and then after the 200 billion we have 300 billion in abeyance. Ok? So we have 50 plus 200 plus almost 300," Trump said.

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