API Encourages U.S.-China Trade Talks to Continue, Lift All Section 301 Tariffs
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WASHINGTON, June 29, 2019 – API released the following statement on the Administration’s decision to postpone the imposition of additional tariffs under Section 301 on $300 billion worth of imports from China:
“We are encouraged to see progress in U.S.-China trade negotiations,” said API’s Senior Advisor for International Policy Aaron Padilla. “It shows that the Administration recognizes that further escalating the trade dispute with China would cause more collateral damage to the American economy, businesses, and consumers.”
“We encourage both parties to continue negotiations and to quickly agree on a trade deal that would eliminate all tariffs under Section 301.”
API is the only national trade association representing all facets of the natural gas and oil industry, which supports 10.3 million U.S. jobs and nearly 8 percent of the U.S. economy. API’s more than 600 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, marine businesses, and service and supply firms. They provide most of the nation’s energy and are backed by a growing grassroots movement of more than 47 million Americans. API was formed in 1919 as a standards-setting organization. In its first 100 years, API has developed more than 700 standards to enhance operational and environmental safety, efficiency and sustainability.