More than 500 U.S. enterprises from different industries attended the hearings on planning to impose another round of tariffs on Chinese products, launched on Monday.
Many of these enterprises are against tariffs. They claimed that imposing more tariffs will deal a heavy blow to their businesses, with increasing costs and reducing profits. Moreover, they claimed it is difficult to find a substitute for the Chinese market.
Wang Guan, CGTN reporter, interviewed some of the representatives who attended the hearings regarding their opinions on the tariffs.
Nicole Vasilaros,Senior Vice President, Government and Legal Affairs at National Marine Manufacturers Association, commented that increasing tariffs is not working and has no contribution in solving current problems.
Nicole Vasilaros Senior Vice President, Government and Legal Affairs at National Marine Manufacturers Association is speaking to CCTV. /CGTN Photo
"It is just creating more uncertainty, more costs of U.S. business and more costs of U.S. consumers", said Vasilaros.
In the marine industry, over 400 kinds of products being imported from China are subjected to these tariffs. "It is everything from small component parts on the boats, all the way to the engines and to the boat itself… it is hitting everything on the boat," she said, adding that the round of tariffs will also influence products purchased by ordinary consumers, for example, lifejackets, surfboards and fishing gears.
A slew of U.S. firms also told CGTN that Chinese goods are cheap but of good quality and it's difficult for them to find the substitute from other markets for some specific items, though the U.S. government has repeatedly called for exploring imports market.
"The raw material for cashmere sweater is indigenous in China's Inner Mongolia Autonomous Region, where the cashmere is the best," said Jean Kolloff, the founder and president of Quinn Apparel IncQi Cashmere, noting that Inner Mongolia is the source of cashmere for many manufacturers and designer companies worldwide, including Channel, Gucci and Zegna.
When answering how much time it would spend on finding an alternative market, Jean Kolloff affirmed it's not feasible.
"It can't be made in the U.S. The only other option that has knitting machines that could perhaps produce the quality I currently receive in China would be Italy… perhaps maybe Scotland in the UK, but that would be prohibitively expensive for the U.S. consumer.
"You can't find the materials and the precision that you find in China," Mark Corrado, representative of ladies clothing companies in the U.S. explained with the superior quality bras made in China.
"Even when you make them in Mexico, they are made of Chinese molded cup."