'With the changes in trade friction between China and the United States, both parties have imposed tariffs on some commodities. This has increased the cost of US business operations to a certain extent. 'Ed Brzytwa, National Trade Director of the American Chemical Society, recently published an article on the official website of the American Chemical Society. Said, 'Now American manufacturers want to maintain the leading position in the world, and the manufacturing status of low-cost chemical production is difficult.'
Ed Brzytwa said that the current list of tariffs issued by the United States to China involves a total of 1,517 chemical and plastic products from China, worth about $15.4 billion.
This increase in tariffs increases the cost of US companies importing goods from China, affecting the US global supply chain, and thus affecting the US's leading position in global manufacturing.
China's list of tariffs, which involves a total of 1,000 chemicals and plastic products from the United States, worth about 10.8 billion US dollars, will also affect China's fast-growing chemical and plastics processing industries to a certain extent.
'Tariffs have a negative impact on chemical manufacturers in the United States. Since chemical products involve 96% of products, raising tariffs on chemicals will ultimately affect the price of mass consumer products, which will be affected by price increases from automobiles, trucks and electronics. ' Ed Brzytwa stressed.
Earlier this month, the development of the chemical industry in the United States reached a milestone - the United States' new chemical investment projects exceeded 200 billion US dollars, of which about half of the investment is in the planning or development stage.
'Some projects may be delayed or abandoned due to the entry into force of new tariffs. These investments are almost always serving the global market. Now US companies may consider moving their production overseas to avoid tariffs. The opinions of these affected companies should be heard. ' Ed Brzytwa said.
He called on the US government to conduct effective negotiations with China as soon as possible, and the two sides reached an agreement to cancel the additional tariffs. 'Trade friction will eventually hurt American manufacturers, retailers and consumers.'