The U.S Chamber of Commerce said Friday that President Trump’s call for U.S. businesses to pull out of all trade with China was the wrong course. The nation’s largest business trade association warned against any further escalation of rhetoric between the nations.
“Despite our concerns, the 40-year old trade relationship between our two countries has been for the most part productive, constructive, and mutually beneficial. U.S. companies have been ambassadors for positive changes to the Chinese economy that continue to benefit both our people,” said Myron Brilliant, the Chamber’s executive vice president and head of international affairs.
Brilliant urged both sides to return to the negotiating table. “While we share the President’s frustration, we believe that continued, constructive engagement is the right way forward. Time is of the essence. We do not want to see a further deterioration of US-China relations.”
Earlier Friday, Trump called on U.S. businesses to immediately find alternative sources for any goods they were importing from China.
“Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing your companies HOME and making your products in the USA,” Trump tweeted.
Trump’s comments came after Beijing announced earlier on Friday that it was enacting additional tariffs of 5% and 10% on $75 billion worth of U.S. goods. It will also place a 25% tariff on American automobiles and a 5% duty on auto parts.
The White House has placed 25% tariffs on $250 billion worth of Chinese goods and is scheduled to place 10% tariffs on a further $300 billion a week from now if a trade deal is not reached with China.
