SEMA: Trump’s tariffs ‘misplaced’

7th August 2018 | 0 Comments
 

The Specialty Equipment Market Association (SEMA) has voiced its disapproval of US President Trump’s aim to impose 25 per cent tariffs on a range of products imported from China; the US-based association, which represents the vehicle aftermarket, says it opposes these tariffs as well as the Trump administration’s tariffs on steel and aluminium and the threatened tariffs on imported cars and automotive parts – it considers them as “misplaced and having the potential to impose significant harm on US businesses and consumers.”

If implemented, which could occur as soon as October, the 25 per cent tariff on US$200 billion worth of Chinese goods will substitute the previously-proposed ten per cent tariff. As SEMA notes, this third list would be in addition to already authorised tariffs of 25 per cent on $50 billion worth of products.

“While it is important to identify and challenge unfair trade practices, tariffs are a form of taxation that lead to unintended trade retaliation and loss of American jobs,” wrote SEMA in a statement.

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Category: International News