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4 July, 2018 00:00 00 AM
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Chamber says $75b in US exports subject to counter-tariffs

AFP

US trading partners retaliating against President Donald Trump’s trade offensive as have hit back with tariffs on $75 billion in American exports, leaving local companies vulnerable to job losses, a leading business group said Monday, reports AFP from Washington.

The Trump administration on Monday persisted in defending its burgeoning, multi-front trade war, with Commerce Secretary Wilbur Ross saying the world’s

largest economy was robust enough to face the economic blowback.

Steep US tariffs on more than $30 billion in Chinese imports are due to take effect Friday as retribution for Beijing’s alleged theft of US intellectual property.

Meanwhile, Canada retaliated against US steel and aluminum tariffs by imposing retaliatory duties on $12.6 billion in American goods starting Sunday. Ottawa targeted American steel and aluminum as well as goods from politically sensitive regions like Florida orange juice and Kentucky bourbon.

Thomas Donahue, president of the US Chamber of Commerce, said Monday the tariffs were “simply taxes that raise prices for everyone.”

The Chamber highlighted vulnerable exports from states that had supported Trump in his surprise 2016 presidential election victory.

 

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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