We are disappointed that the US-China trade dispute is due to be escalated once again on September 1st, with tariffs now to be imposed on many more goods including consumer items. After the two Presidents met in June at the G20 in Osaka, it appeared that the two sides were making constructive progress and that negotiations were back on track, which makes the latest news all the more dispiriting. Our members have long been clear that tariffs are paid by consumers and harm business, and many are necessarily taking steps to mitigate risks as the dispute continues into a second year. We urge, as we have done for the past year, that both sides work towards a sustainable agreement as soon as possible that resolves the fundamental, structural issues foreign businesses have long faced in China. It is our belief that substantial further reform and opening of the Chinese economy to foreign business is essential for any mutually beneficial deal, rather than a series of cosmetic and drawn-out trade concessions. However, progress will only be possible if negotiations continue in a constructive, results-oriented manner between negotiators. As talks continue, we encourage both governments to use their respective tariff exclusion processes to minimize the impact on citizens of both countries.
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