Tan Sen, President of the US China Business Council: The US indirectly acknowledges that tariffs are pushing up prices

Washington, December 3 (Xinhua) -- Tan Sen, President of the US China Business Council, said in Washington on the 3rd that overall, the imposition of tariffs has not helped the US economy or enhanced the competitiveness of American companies globally. The recent announcement by the US to reduce some tariffs is actually an acknowledgement of the fact that tariffs will push up prices within the United States.

On that day, the China Council for the Promotion of International Trade organized a delegation of Chinese entrepreneurs to have a discussion with the National Committee on US China Trade and its member companies in Washington. Tan Sen stated in a media interview before the discussion that overall, companies will absorb some of the costs brought about by the tariff increase, but their ability is limited. Small and medium-sized enterprises, especially those located in the heartland of the United States, often have limited access to capital and limited business scale, making them the group most severely affected by tariffs.

Tan Sen said that in recent weeks, the US has announced the reduction of some tariffs, which actually acknowledges a fact: tariffs will push up domestic prices in the US and reduce the global competitiveness of enterprises. He said, "Tariffs will bring corresponding costs, and we hope that US government decision-makers can learn from this lesson more widely

In response to a question from Xinhua News Agency, Tan Sen stated that the external statement that "American companies are withdrawing from the Chinese market" is completely untrue. American companies have been rooted in China for decades and will not leave the Chinese market. American companies have long-term layout, continuous development, expansion, and increased investment in China, while also investing in other regions of Asia.

Tan Sen expressed that looking to the future, he hopes that both the United States and China will not only focus on procurement, trade balance, export controls, export licensing, and tariffs, but also think more about what the two countries will do together, what they will build together, and how they can make positive contributions to the region and the world. This is what the business community hopes to see.