The most influential US business groups have appealed to the government to restart negotiations with China and cut tariffs on imports. The letter was addressed to US Trade Representative Katherine Chi Tai and Treasury Secretary Janet Yellen.
Representatives of the business groups draw the attention of the authorities to the fact that China has fulfilled all its obligations under the trade agreement. Above all, China opened markets to US financial institutions and reduced some regulatory barriers to US agricultural exports to China. This letter was signed by about 30 US trade groups, including such major associations as the US Chamber of Commerce, the National Retail Federation, and the Semiconductor Industry Association.
After analyzing the current situation, experts concluded that the letter reflected the growing frustration of some American companies with the pace of trade and economic policy reviews toward China. The groups no longer want to be embroiled in a trade war and are actively calling for reconciliation with the PRC and lowering tariffs on Chinese goods. The continuation of the trade conflict between the two largest economies "will only lead to a lose-lose situation," Chinese Foreign Ministry spokesman Zhao Lijian warned earlier. Thus, Beijing responded to Yellen's statement in which she doubted whether last year's trade deal between the countries was beneficial to Washington.
