The US Chamber of Commerce is not in sync with the thoughts of the Trump administration to levy tariffs on Chinese goods. They feel that if the unilateral tariffs are imposed on these Chinese goods, then this could lead to a trade war between the two countries. If a trade war broke out, then it could spell doomsday for the growth of the U.S. economy and for the American consumers.
The President of the US Chamber of Commerce, Thomas Donohue, said that the imposition of such tariff along with the China’s intellectual property practices probe could have a serious effect on the taxes on American consumers.
Thomas’s comments came after the Trade Advisor to the White House, Peter Navarro, said that the President would be looking to address the theft and the forced transfer of the American intellectual property by China very soon.
There are reports doing the rounds that a Trump would be looking to levy tariffs on Chinese consumer, information technology, and telecommunication products. These products account for $60 billion.
Donohue was in support of Trump’s focus on China’s unfair trade practices and industrial policies. But, he feels that the tariffs on popular Chinese products would cause a problem to the trade ties between two countries.