Aug 08, 2018

Freedom Partners: Latest Round of Chinese Tariffs on U.S. Goods Painfully Predictable

Post by Freedom Partners

Arlington, VA – In response to the administration’s decision to levy a 25 percent tariff on an additional $16 billion of Chinese imports, the Chinese Ministry of Commerce announced it would retaliate with a matching 25 percent tariff on another $16 billion worth of U.S. goods.

Freedom Partners Chamber of Commerce Executive Vice President Nathan Nascimento issued the following statement:

“China’s retaliation to the latest round of tariffs was painfully predictable – just ask the countless American farmers who have been at the forefront of these self-destructive policies. As our trade dispute with China escalates, they will continue to respond, leaving American businesses, workers, and consumers as the victims. Rather than accelerating this situation, the administration should embrace a positive approach and work towards its ‘zero tariff’ goal. Addressing China’s unacceptable practices, like stealing our technology, is better done working together with other trade partners.”

Freedom Partners Trade Principles:

  • Individuals, businesses, and countries should be free to engage in the voluntary exchange of goods and services, which improves lives by growing the economy, increasing pay checks, and creating new and better jobs.
  • Individuals and businesses in a competitive market, not government bureaucrats or politicians, should guide trade decisions.
  • Punitive measures such as tariffs and quotas harm most consumers, workers, and businesses and should be eliminated.
  • Subsidies and other forms of government supports for powerful and politically connected businesses and industries do not create value. They punish consumers, insulate businesses from market competition, and should be eliminated.
  • Trade disputes should be resolved through existing international trade agreements and organizations.
  • While national security interests may be a consideration in trade policy, they should be used to restrict trade only when there is truly a narrow national security interest at stake, not as a work around to impose tariffs.