02:45
America's major corporations are taking on the White House - over the raft of tariffs being launched by - and against - the United States. This lobbying effort comes as President Donald Trump reportedly considered leaving the World Trade Organization. CGTN White House Correspondent, Jessica Stone reports.
JESSICA STONE WASHINGTON "The US Chamber of Commerce has donated more than 100-thousand dollars to Republican congressional candidates in the past six months alone. But the chamber has opposed Donald Trump's positions on trade and immigration and now it's launched a campaign against the president's tariffs."
The US has already been hit with retaliatory tariffs from Canada and the E-U. This week, Washington and Beijing are expected to slap more tariffs against each other. The chamber calculates that proposed and current tariffs threaten as many as 2.6 million jobs in the United States.
The US Chamber President released a statement "We should seek free and fair trade, but this is just not the way to do it. It's time to reverse course and adopt smarter, more effective approaches for addressing trade concerns with commercial partners."
Meantime, the EU is now threatening to slap tariffs on nearly 300 billion dollars' worth of US goods in retaliation for Trump's threat to impose a 20 percent tariff on all European auto imports. A European Commission spokesperson says the US investigation into possible auto tariffs "lacks legitimacy, factual basis and violates international trade rules," just like last month's US tariffs on steel and aluminum imports. Trump says he's close to making a deal with the Europeans and trade in autos is his leverage.
US media site Axios has obtained what it said was a draft bill to leave the WTO. This would consolidate more power in the White House to levy tariffs, at will.
SARAH HUCKABEE SANDERS WHITE HOUSE PRESS SECRETARY "It's not accurate that the US is leaving the WTO, but it certainly voices frustration. He has made it clear that he has concerns there are a number of aspects that he doesn't believe fair and China and other countries had views that WTO to their own advantage, focusing on fixing the system."
JESSICA STONE WASHINGTON "Seven of the largest US trading partners have already filed WTO cases against Washington's steel and aluminum tariffs."