Donald Trump’s newest round of tariffs on Chinese imports puts off the worst of the impact until after US retailers’ critical Christmas season and spares a few businesses, including smartwatches and high chairs, but corporate America still decried the move as costly and counterproductive.
Washington’s largest trade associations have spent months ramping up campaigns against the escalating trade war, identifying state by heartland state how many jobs and export dollars would be put at risk. In public hearings, small business owners making everything from fishing nets to wooden crates urged Washington to reconsider, but Mr Trump tuned out the chorus.
“As thousands of businesses have testified and explained in comments to the administration, tariffs are a tax on American families,” National Retail Federation president Matthew Shay lamented after the new 10 per cent tariff on $200bn of Chinese imports was announced. It was “disappointing” that the administration had ignored the voices of those affected, he said.