More than 150 organizations, including the Who’s Who of retailing and manufacturers of consumer goods, have written to members of Congress extolling the benefits of global trade and urging them not to bash China because of the burgeoning US/China trade deficit.
As several committees in both the House and Senate are considering legislation to address with punitive tariffs and other measures what many see as China’s predatory trade practices, the importers said “retaliatory measures such as increasing tariffs or assessing user fees will do more harm than good.” Companies signing the letter included such major importers of Chinese apparel as Wal-Mart, Target and Gap, as well as trade associations including the US Association of Importers of Textiles and Apparel, the American Apparel and Footwear Association and the National Retail Federation.
The letter said: “Participation in the global economy has provided significant and important benefits for the United States. Many in the United States, however, have concerns about the impact that globalization in general and trade with China in particular are having on jobs and economic security. We recognize that some parts of the US economy have faced substantially increased competition. We agree that constructive efforts should be pursued vigorously to address such concerns and increase the benefits from engagement in the international economy for all Americans.”
The letter went on to say the benefits of participation in the international economy go beyond increased economic activity and the creation of high-quality jobs in the United States, claiming US companies also are promoting better employment and environmental preservation practices and health and safety standards to facilities in China and around the world.
The importers say advancing the United States’ interests requires eliminating barriers to trade abroad and increasing competitiveness at home. They add that, for example, China has already made “major advances” in implementing its World Trade Organization commitments in a manner that has benefited nearly all major sectors of the US economy.
The letter said imposing barriers to trade in the name of currency valuation or product safety is not a solution to the underlying concerns about the impact of global trade, and it ultimately undermines the work that should be undertaken “to prepare our economy and our workers for the realities of the global economy.”
As several committees in both the House and Senate are considering legislation to address with punitive tariffs and other measures what many see as China’s predatory trade practices, the importers said “retaliatory measures such as increasing tariffs or assessing user fees will do more harm than good.” Companies signing the letter included such major importers of Chinese apparel as Wal-Mart, Target and Gap, as well as trade associations including the US Association of Importers of Textiles and Apparel, the American Apparel and Footwear Association and the National Retail Federation.
The letter said: “Participation in the global economy has provided significant and important benefits for the United States. Many in the United States, however, have concerns about the impact that globalization in general and trade with China in particular are having on jobs and economic security. We recognize that some parts of the US economy have faced substantially increased competition. We agree that constructive efforts should be pursued vigorously to address such concerns and increase the benefits from engagement in the international economy for all Americans.”
The letter went on to say the benefits of participation in the international economy go beyond increased economic activity and the creation of high-quality jobs in the United States, claiming US companies also are promoting better employment and environmental preservation practices and health and safety standards to facilities in China and around the world.
The importers say advancing the United States’ interests requires eliminating barriers to trade abroad and increasing competitiveness at home. They add that, for example, China has already made “major advances” in implementing its World Trade Organization commitments in a manner that has benefited nearly all major sectors of the US economy.
The letter said imposing barriers to trade in the name of currency valuation or product safety is not a solution to the underlying concerns about the impact of global trade, and it ultimately undermines the work that should be undertaken “to prepare our economy and our workers for the realities of the global economy.”
