Close-up: "We can't afford a new round of tax increases without China's supply chain"-A direct attack on the US hearing to impose tariffs on China-Shanghai Metals Market

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Close-up: "We can't afford a new round of tax increases without China's supply chain"-A direct attack on the US hearing to impose tariffs on China

Translation 08:38:52AM Jun 19, 2019 Source:Xinhua News Agency

SMM News: the cashmere clothing manufacturer in New York is here, the baby goods manufacturer in California is here, and the sneaker manufacturing company in Massachusetts is here. The US International Trade Commission Building, located south of Washington, D.C., is bustling with people.

The same day was the first day of a seven-day series of hearings held by the US government to impose tariffs on $300 billion worth of Chinese goods exported to the United States. Dozens of industry associations and company representatives came from all over the United States to "complain." in their speeches, the vast majority of them called on the US government not to impose a new round of tariffs on Chinese goods, saying that "we cannot do without the Chinese supply chain." we can't afford a new round of tax increases, which ultimately hurt American businesses and consumers.

Direct impact on American consumers

Unlike previous rounds of US tariffs on China, which are mainly concentrated on intermediate and industrial products, most of the US proposed tariffs on China are terminal consumer goods that ordinary people are most familiar with, including mobile phones, laptops, clothing, shoes, toys, gaming equipment, and so on. Once these tariffs are implemented, US consumers will be directly affected.

Brent Cleveland, executive director of the American Fashion Jewelry and Accessories Trade Association, spoke for the first time at the hearing. Cleveland said that importing these daily consumer goods will not endanger the security of the United States, but imposing tariffs will harm the interests of small and medium-sized enterprises and consumers in the United States.

Mark Schneider, chief executive of Keniscoll, a US shoe, hat and luggage company, also said imposing tariffs on imports from China would force the company to share losses with retailers and consumers.

Lisa Turov, executive director of the American Association of Adolescent Product Manufacturers, said that if tariffs were imposed on infant goods imported from China, many American families would not be able to afford safe infant products, which would endanger the safety of infants and young children.

Carey Stackpole, chief executive of the International fitting Manufacturers Association, is puzzled by the inclusion of pipeline products in the proposed tariff list. "toilets and faucets are an integral part of the home. We think it is wrong to impose tariffs on these products, which is not good for keeping American homes and buildings clean. "

Representatives of US electronics retailers Best Buy, New Boren Sports shoes Manufacturing Company, the American Garment and shoes Industry Federation, the Toy Association, and other enterprises and industry associations also warned at the hearing on the same day that imposing tariffs on China would increase US consumer costs, disrupt business production, and damage US jobs.

Prior to the hearing, the Office of the US Trade Representative had received more than 1600 written comments from representatives of various industries, and the vast majority opposed the US government's levying tariffs on Chinese goods. The Washington Post believes the outpouring of opposition reflects growing concerns about tariff policy in the US business community and the exhaustion of patience with the president's trade policy.

The US lobby group "tariffs hurt the Hinterland of the United States" recently quoted the results of a study saying that if tariffs were imposed on an additional US $300 billion worth of Chinese imports to the United States, coupled with tariffs already in force, the United States would lose 2 million jobs and reduce its gross domestic product by 1 per cent.

Supply chain is inseparable from China

At the hearing, U. S. government officials still asked the most about whether companies could move the supply chain out of China. Entrepreneurs and industry representatives have repeatedly patiently explained that China's supply chain system is mature and it will not be easy to remove the supply chain from China; it is even impossible for some industries. China is the only source of imports of many products.

Qiongkolov, chief executive of Quinn Apparel in New York, said that the company's imported cashmere clothing must use high-quality cashmere from China's Inner Mongolia Alxa sheep, and that China has a high level of textile technology and guaranteed quality. therefore, it is impossible to transfer the product supply chain out of China.

Schneider, who works in shoes, hats and bags, also said: "over the years we have established an efficient and stable supply chain in China. If the supply chain is transferred to other countries, product quality, production capacity and performance-to-price ratio will not be maintained, and it is not feasible to move back to the United States, because there are no supporting facilities to support the development of the relevant industries. "

Rick Hale Finbein, co-president of the US clothing and shoes and socks industry, admitted that they had tried to transfer the supply chain from China, but that the Chinese clothing and shoes and socks industry had always done better than anywhere else. He said that despite the rapid rise in labour costs in China over the past few years, China had managed to remain competitive by increasing labour productivity.

The China Economic Bulletin released by the World Bank in May pointed out that when investors decide whether to move out, they will take into account not only wage differences among countries, but also other relevant factors. China's complete supplier ecosystem, good worker skills and business culture are all valued by investors. Nicholas Lardy, a senior researcher at the Peterson Institute for International Economics, told Xinhua that foreign direct investment flows into China are still high and rising.

Sino-US economic and trade cooperation benefits both sides

The speeches made by the delegates at this hearing once again demonstrated the mutually beneficial and win-win nature of Sino-US economic and trade relations.

Schneider, who has been doing business with China for 35 years, says he has been happy with his Chinese business partners. China is a good supply base and trade relations with China benefit American consumers. He stressed that imposing tariffs on products such as shoes, hats, luggage and so on would not address the concerns of the United States Government.

Bob Magvicus, a member of the Board of Directors of the American Bicycle parts suppliers Association, said that China is an important part of the global bicycle supply chain, and that US bicycle manufacturers and Chinese partners have been working well together for many years. The two sides have established a very close cooperative relationship.

Recently, 520 US companies and 141 trade associations have sent a letter to US President Donald Trump urging the US government not to impose tariffs on imports from China, but to return to the negotiating table to reach a solution with China.

At the "choose the United States" 2019 investment summit, which ended last week, US local government economic and trade officials also expressed their desire to end trade disputes as soon as possible and strengthen economic and trade cooperation with China. Laura Johnson, who is in charge of marketing at the Idaho Department of Agriculture, told reporters that although there are negative voices at the federal government level, the position of friendly exchanges with China at the local government and enterprise level has not changed.

Close-up: "We can't afford a new round of tax increases without China's supply chain"-A direct attack on the US hearing to impose tariffs on China

Translation 08:38:52AM Jun 19, 2019 Source:Xinhua News Agency

SMM News: the cashmere clothing manufacturer in New York is here, the baby goods manufacturer in California is here, and the sneaker manufacturing company in Massachusetts is here. The US International Trade Commission Building, located south of Washington, D.C., is bustling with people.

The same day was the first day of a seven-day series of hearings held by the US government to impose tariffs on $300 billion worth of Chinese goods exported to the United States. Dozens of industry associations and company representatives came from all over the United States to "complain." in their speeches, the vast majority of them called on the US government not to impose a new round of tariffs on Chinese goods, saying that "we cannot do without the Chinese supply chain." we can't afford a new round of tax increases, which ultimately hurt American businesses and consumers.

Direct impact on American consumers

Unlike previous rounds of US tariffs on China, which are mainly concentrated on intermediate and industrial products, most of the US proposed tariffs on China are terminal consumer goods that ordinary people are most familiar with, including mobile phones, laptops, clothing, shoes, toys, gaming equipment, and so on. Once these tariffs are implemented, US consumers will be directly affected.

Brent Cleveland, executive director of the American Fashion Jewelry and Accessories Trade Association, spoke for the first time at the hearing. Cleveland said that importing these daily consumer goods will not endanger the security of the United States, but imposing tariffs will harm the interests of small and medium-sized enterprises and consumers in the United States.

Mark Schneider, chief executive of Keniscoll, a US shoe, hat and luggage company, also said imposing tariffs on imports from China would force the company to share losses with retailers and consumers.

Lisa Turov, executive director of the American Association of Adolescent Product Manufacturers, said that if tariffs were imposed on infant goods imported from China, many American families would not be able to afford safe infant products, which would endanger the safety of infants and young children.

Carey Stackpole, chief executive of the International fitting Manufacturers Association, is puzzled by the inclusion of pipeline products in the proposed tariff list. "toilets and faucets are an integral part of the home. We think it is wrong to impose tariffs on these products, which is not good for keeping American homes and buildings clean. "

Representatives of US electronics retailers Best Buy, New Boren Sports shoes Manufacturing Company, the American Garment and shoes Industry Federation, the Toy Association, and other enterprises and industry associations also warned at the hearing on the same day that imposing tariffs on China would increase US consumer costs, disrupt business production, and damage US jobs.

Prior to the hearing, the Office of the US Trade Representative had received more than 1600 written comments from representatives of various industries, and the vast majority opposed the US government's levying tariffs on Chinese goods. The Washington Post believes the outpouring of opposition reflects growing concerns about tariff policy in the US business community and the exhaustion of patience with the president's trade policy.

The US lobby group "tariffs hurt the Hinterland of the United States" recently quoted the results of a study saying that if tariffs were imposed on an additional US $300 billion worth of Chinese imports to the United States, coupled with tariffs already in force, the United States would lose 2 million jobs and reduce its gross domestic product by 1 per cent.

Supply chain is inseparable from China

At the hearing, U. S. government officials still asked the most about whether companies could move the supply chain out of China. Entrepreneurs and industry representatives have repeatedly patiently explained that China's supply chain system is mature and it will not be easy to remove the supply chain from China; it is even impossible for some industries. China is the only source of imports of many products.

Qiongkolov, chief executive of Quinn Apparel in New York, said that the company's imported cashmere clothing must use high-quality cashmere from China's Inner Mongolia Alxa sheep, and that China has a high level of textile technology and guaranteed quality. therefore, it is impossible to transfer the product supply chain out of China.

Schneider, who works in shoes, hats and bags, also said: "over the years we have established an efficient and stable supply chain in China. If the supply chain is transferred to other countries, product quality, production capacity and performance-to-price ratio will not be maintained, and it is not feasible to move back to the United States, because there are no supporting facilities to support the development of the relevant industries. "

Rick Hale Finbein, co-president of the US clothing and shoes and socks industry, admitted that they had tried to transfer the supply chain from China, but that the Chinese clothing and shoes and socks industry had always done better than anywhere else. He said that despite the rapid rise in labour costs in China over the past few years, China had managed to remain competitive by increasing labour productivity.

The China Economic Bulletin released by the World Bank in May pointed out that when investors decide whether to move out, they will take into account not only wage differences among countries, but also other relevant factors. China's complete supplier ecosystem, good worker skills and business culture are all valued by investors. Nicholas Lardy, a senior researcher at the Peterson Institute for International Economics, told Xinhua that foreign direct investment flows into China are still high and rising.

Sino-US economic and trade cooperation benefits both sides

The speeches made by the delegates at this hearing once again demonstrated the mutually beneficial and win-win nature of Sino-US economic and trade relations.

Schneider, who has been doing business with China for 35 years, says he has been happy with his Chinese business partners. China is a good supply base and trade relations with China benefit American consumers. He stressed that imposing tariffs on products such as shoes, hats, luggage and so on would not address the concerns of the United States Government.

Bob Magvicus, a member of the Board of Directors of the American Bicycle parts suppliers Association, said that China is an important part of the global bicycle supply chain, and that US bicycle manufacturers and Chinese partners have been working well together for many years. The two sides have established a very close cooperative relationship.

Recently, 520 US companies and 141 trade associations have sent a letter to US President Donald Trump urging the US government not to impose tariffs on imports from China, but to return to the negotiating table to reach a solution with China.

At the "choose the United States" 2019 investment summit, which ended last week, US local government economic and trade officials also expressed their desire to end trade disputes as soon as possible and strengthen economic and trade cooperation with China. Laura Johnson, who is in charge of marketing at the Idaho Department of Agriculture, told reporters that although there are negative voices at the federal government level, the position of friendly exchanges with China at the local government and enterprise level has not changed.