WASHINGTON — As the United States and China prepare to resume fractious trade talks this week, executives from American companies flocked to Washington on Monday to warn the Trump administration that imposing tariffs on an additional $200 billion worth of Chinese goods would cripple their businesses and raise prices on everything from bicycles to car seats to refrigerators. Dozens of companies voiced concerns to trade officials during the first of six days of hearings on the administration’s plan to impose tariffs of as much as 25 percent on a wide array of Chinese imports. While the companies appearing before the government panel varied widely, their concerns struck a similar theme: The United States is no longer equipped to produce many materials that they depend on for their products. The rise of global supply chains has shifted the bulk of manufacturing and production outside the United States, leaving companies no choice but to rely on foreign materials, including those from China. If President Trump’s tariffs move ahead, Mr. Day said, it will mean job cuts at his Massachusetts-based business.

Source: New York Times August 20, 2018 23:48 UTC