“We appreciate the administration’s continued engagement with China and the extension of the pause on heightened tariffs which will help to avert devastating consequences like product elimination and business closures,” said Steve Lamar, president and chief executive officer (CEO) at AAFA. “However, the constant cycle of deadline delays and vague deal terms has kept American companies and consumers stuck in the same holding pattern since April 1. This pattern has and continues to stifle innovation, strategic decision-making, and long-term growth.”
He urged the administration to add a non-stacking provision similar to those in US trade agreements with Japan and the EU, warning that the current tariff level remains ‘untenably high’. He stressed that these duties are in addition to legacy tariffs, including Smoot-Hawley MFN and Section 301 measures, amounting to double taxation on American families for essentials like clothing and footwear.
ALCHEMPro News Desk (SG)
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