Donald Trump administration has focused on plans to escalate its trade dispute China on Sunday, move retailers across the country have warned against.
Testifying before US trade officials in June, dozens of retailers said putting tariffs on Chinese import good would raise price tags for American businesses and consumers. That could chip away at one of the brightest spots in the US economy retail expanding.
The US duties are scheduled to take effect in two stages, on September 1 and December 15. China has vowed to retaliate with more tariffs on American products.
Public hearings on the tariffs lasted seven days, with witnesses allowed to speak for five minutes each. Here’s what they told the Trump administration, according to US Trade Representative transcripts.
This condition could result in the worst economic stability in the country. China has been one of the biggest exporters in the USA. Putting tariffs on the commodities which are used by the people on a daily basis is not the right decision. It will further escalate more economic tension between the two countries.
People will have to shift to other substitutes at higher prices. Some retailers suggested that the timing of these tariffs is not rite and they need more tie for the transition. This could also increase the burden on the buyers.