Sentences with phrase «for sweeping tariffs»
Hours after both the United States and China detailed plans for sweeping tariffs, trade groups warned that a tit - for - tat trade war between the world's two largest economies will have no winners.
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«The imposition of sweeping tariffs would trigger a chain reaction of negative consequences for the U.S. economy, provoking retaliation; stifling U.S. agriculture, goods, and services exports; and raising costs for businesses and consumers,» said the letter.
Yet conversations have so far focused on concessions like China reducing tariffs on American cars, opening up its market for financial services and purchasing more semiconductors or natural gas — minor wins that are unlikely to satisfy Mr. Navarro and Mr. Lighthizer, who are pushing for significant and sweeping changes to China's market, according to people familiar with the negotiations.
Investment restrictions would be the second stage, following tariffs, in a sweeping trade measure that aims to penalize China for what the United States deems unfair trade practices.
A group of 46 US industry and trade associations made a final plea to Trump in a letter earlier this week, arguing that «the imposition of sweeping tariffs would trigger a chain reaction of negative consequences for the US economy.»