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US economic group asks Congress to curb arbitrary tariffs on President Trump

2019-09-19T02:49:50.588Z


[Reuters, Washington, 18]-Twenty-three US economic groups in Parliament to restrict President Trump from triggering tariffs on the 18th, as concerns rise over the negative effects on the economy of President Trump ’s trade policy By joint name


[Reuters, Washington, 18]-Twenty-three US economic groups in Parliament to restrict President Trump from triggering tariffs on the 18th, as concerns rise over the negative effects on the economy of President Trump ’s trade policy Requested by joint name.

He clarified the formation of the Tariff Reform Coalition, led by the National Trade Council (NFTC), and called on Congress to strengthen its influence over trade policy and strengthen the monitoring of tariff usage by the president.

NFTC President Rufus Elsa said in a statement that the US Constitution has given authority to regulate trade in Congress, and that Congress needs to endeavor to limit tariff use to exceptional circumstances. “Since the 1930s, the United States has never relied on tariffs to this extent. While serving a part, it has overlooked the broad impact on other industries and the economy as a whole.”

23 organizations stated in a letter addressed to the House Revenue Committee and the Senate Finance Committee that dealt with trade issues: “Many of the customs measures the US administration has implemented over the past two years have had a major impact on domestic prices, and a wide range of exports to the United States. It is clear that this has led to retaliation, ”he warned that if the measures currently under consideration were triggered, the adverse effects would spread further.

The letter was signed by major economic organizations such as the Food Manufacturers Association (GMA), the National Retailers Association (NRF), the World Automobile Manufacturers Association (AGA), and the American Automobile Dealers Association (AIADA).

The US Congress is considering several bills to curb President Trump's authority under Article 232 of the Trade Expansion Act. The president applied tariffs on steel and aluminum imports because of the law, and indicated the possibility of importing automobiles from Japan and the European Union (EU).

Republican head of the House Revenue Committee, Congressman Kevin Brady pointed out that Congress wants to expand its role in trade policy, but there is no consensus on how to do it.

He said the parliament was united by the need to compete with China, and said the US and China were cautiously optimistic that they would eventually agree to trade talks.

In addition, details will be revealed about the President's intention to conclude an agreement with Japan on tariff barriers this week, such as whether the White House is authorized to conclude an agreement as part of a two-step process. "I hope for a comprehensive agreement with Japan. I will determine if this first stage will lead to the second stage," he said.

Source: asahi

All news articles on 2019-09-19

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