Additional Trade Taxes Will Further Undermine Growth
(Arlington, VA) – According to press reports, the president is seriously contemplating the imposition of new tariffs on $200 billion in goods imported annually from China. These trade taxes – which would be paid by American purchasers of these products – follow multiple earlier rounds of tariffs on Chinese goods, as well as broader taxes on imported metals, which also apply to products from China. In recent months, China has imposed retaliatory tariffs on $60 billion in imports from the United States.
Daniel Garza, President of The LIBRE Initiative, released the following statement:
“In an attempt to prompt China to reduce import barriers and implement structural reforms, the administration is imposing round after round of new taxes on American companies and consumers who choose to buy goods from China. This is a costly strategy. And combined with tariffs imposed by China on U.S. exports, real damage is being done to our economy, our workers, and our consumers. It’s essential that the administration work expeditiously with our trading partners to eliminate trade taxes and barriers – rather than see them continue to mount.”