Manufacturing group warns of tariff problems

by Talk Business & Politics staff ([email protected]) 286 views 

The National Association of Manufacturers (NAM), typically an ally of President Donald Trump, has called on the Trump administration to “get Beijing back to the negotiating table.”

NAM President and CEO Jay Timmons issued his statement following the administration’s recent addition of $16 billion in U.S. tariffs on China.

“This announcement underscores that the administration needs to get Beijing back to the negotiating table, as manufacturers have been urging for months,” Timmons said, adding that two things were “abundantly clear” at present: “China cheats, and another round of tariffs on China will not fix the problem.”

Timmons credited the administration for its position that China attempts to force U.S. companies to hand over valuable technology, restricts foreign investment, distorts the free market to give their own companies an advantage, and undercuts U.S. manufacturers in the global economy while stealing intellectual property.

“While these additional tariffs may be an attempt to create more leverage, they also increase the risks for manufacturing in America and add to mounting uncertainty.”

Timmons continued: “We are already seeing price increases that will be felt by consumers and working families, and additional retaliatory tariffs could close major markets off to U.S. exports. Manufacturing workers are feeling the pain of tariffs, as are American consumers. If the point is to put pressure on China to change its actions, tariffs paid by American businesses and consumers are simply not effective.”