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Mats Habborn, president of EU Chamber of Commerce in China, said that a quarter of member enterprises in the EU Chamber of Commerce in China exported to the US affecting by these ridiculous tariffs in a recent interview in Beijing.
He also mentioned that pushing the rate up to 25% would prove to be extremely damaging for these companies, with collateral damage spreading globally. On the day when the US launched the $200 billion tariff upgrade on goods to China, the American Chamber of Commerce in China issued a statement in its official website, saying that they had taken note of the US side's tariff upgrade and China's announcement that they would fight back. The chamber expressed concern and disappointment over the upgrade of risk.
The statement also showed American Chamber of Commerce in China strongly supported the efforts to reach an agreement, devoting to helping both sides find a sustainable solution to meet the needs of China and the United States, and American business circles in key areas.
Opposition to the tariffs has also emerged among business associations in the United States. The US-China National Committee on trade recently issued a statement that trade negotiations should continue and the two sides should work to bridge their differences, especially stopping the imposition of additional tariffs.
The statement said that hope the teams could reach a substantive agreement as soon as possible before losing more jobs.
Many trade associations, including the National Retail Federation, the Information Technology Industry Association, the Chemical Council and the Soybean Association, have also issued statements opposing the administration's tariff escalation against China, indicating that a sudden tariff increase would only punish U.S. farmers, enterprises and consumers. A lobbying group representing more than 150 U.S. trade associations issued statement that recent estimates showed raising tariffs to 25% would hurt nearly one million U.S. jobs and increase financial market turmoil.