Influential US business groups appealed to the US authorities with a call to resume negotiations with China and reduce import tariffs, reports The Wall Street Journal.
in their opinion, tariffs are inhibited by the development of the US economy. In a letter to the sales representative of Catherine Tai and Minister of Finance, Janet Yellen, entrepreneurs argue that Beijing fulfilled all obligations under the trade agreement. For example, China opened the markets for American financial institutions and reduced barriers to the export of US agricultural products in the PRC.
The publication notes that the letter reflects the growing disappointment of some American corporations with the pace of revision by the administration of trade and economic policy towards China. Business encourages to make up the PRC and reduce tariffs for Chinese products in general.
The letter was signed by about 30 groups of entrepreneurs, including the US Chamber of Commerce, the National Retail Federation and the Semiconductor Industry Association.
The renewal of the trade war between the United States and China will lead to losing results, warned earlier official representative of the Foreign Ministry of China Zhao Lijian. Thus, Beijing responded to the application of Yellen, in which she doubted that last year’s trading deal between the countries was beneficial to Washington.