NFTC Says Tariff Hikes 'Steep Price' for Market Access Agreements
The National Foreign Trade Council responded to the U.S. hikes in tariffs Aug. 1 (see 2507310081) by saying that agreements to remove some trade barriers are encouraging but "a great deal of work remains to be done to make sure they deliver on those promises and to accelerate efforts to remove discriminatory measures that were not part of those initial understandings.
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"Whatever progress that’s ultimately achieved as part of these new trade deals will come at the steep price of significant U.S. tariff increases and the erosion of trust with America’s key partners."
The group, which represents multinationals, said the higher tariffs and unstable rates make American businesses less competitive in exports.