MOSCOW (Pakistan Point News / Sputnik - 06th August, 2021) A group of influential US entrepreneurs from different sectors have appealed to the administration of President Joe Biden to resume trade negotiations with China and reduce import duties, which, in their opinion, are detrimental to the US economy, The Wall Street Journal reported Friday, citing the letter.
The document sent to US Trade Representative Katherine Tai and Treasury Secretary Janet Yellen was joined by nearly three dozen of the country's most influential business groups representing retailers, chip makers, farmers and other sectors, the newspaper said.
"A worker-centered trade agenda should account for the costs that U.S. and Chinese tariffs impose on Americans here and at home and remove tariffs that harm U.S. interests," the letter said, as quoted by The Wall Street Journal.
The business reps claimed Beijing had met important benchmarks and commitments under the previous administration's trade agreement with China, including opening markets to the US financial institutions and lowering some regulatory barriers for the US agricultural exports, according to the newspaper.
Among those who joined the letter are some of the US's most influential big business associations, including the US Chamber of Commerce, the Business Roundtable, the National Retail Federation, the American Farm Bureau Federation and the Semiconductor Industry Association.
