Export employment to dive if trade war persists -US business group

Reuters

Tue, Apr 29, 2025, 5:26 AM 2 min read

NEW YORK (Reuters) -All American exports to China worthy $140.7 cardinal past twelvemonth present look a retaliatory Chinese tariff of astatine slightest 125%, putting astatine hazard hundreds of thousands of American jobs that enactment the exports, the US-China Business Council said connected Tuesday.

China imposed a 125% tariff complaint connected U.S. exports connected April 11 to retaliate against a 145% tariff that the U.S. authorities levied connected Chinese goods, successful an unprecedented escalating commercialized warfare betwixt the world's 2 largest economies that endanger to dent planetary growth.

In a study released connected Tuesday, the US-China Business Council said U.S. exports to China enactment 862,467 jobs and warned that a continuation of punitive tariff rates connected some sides volition pb to a "precipitous" autumn successful jobs and commercialized revenues.

"No 1 is spared this time," said Sean Stein, president of the US-China Business Council who said each Americans from consumers to farmers and ranchers are wounded by the tariffs. "We impulse leaders from some countries to travel to the negotiating table," helium said.

The Business Council said businesses and communities successful the South and Midwestern United States are astir exposed to Chinese tariffs connected U.S. goods, successful portion due to the fact that oilseeds and grains -- which are produced successful the Midwest -- signifier the largest U.S. exports to China.

Oil and state exports are the adjacent largest U.S. exports to China, astatine $12.3 billion, followed by pharmaceuticals and medicines astatine $10.9 cardinal and semiconductors and components astatine $10.5 billion, the Business Council said.

Texas, Louisiana, Alabama, Illinois and California are astir susceptible to the retaliatory Chinese tariffs owed to the worth of their exports that present look tariff rates beyond 125%, the Business Council said.

On the services side, the U.S. acquisition manufacture is the apical work exporter to China, selling $14.4 cardinal worthy of services successful 2023, the US-China Business Council said. The apical U.S. work exporters to China by authorities were California, New York, Texas, Illinois and Massachusetts successful 2023, the assembly said.

(Reporting by Koh Gui Qing; Editing by Chizu Nomiyama )