Houston, the fourth largest city of the United States, will specifically suffer from a tense trade relationship with China, a trade expert has said.
Val Thompson, founder and president of the Houston International Trade Development Council, made the remarks Wednesday night in an interview with Xinhua at the launch party for the American-Caribbean Chamber of Commerce in Houston.
"I would consider China's trade relationship very important to Houston. Twenty-five percent of all imports to Houston are from China, mostly consumer products," Thompson said.
He expressed the belief that a negative trade relationship could affect employment and raise prices for various types of goods.
"We're going to lose jobs because of the higher prices. Companies and corporations will have to cut back on employment," he said. "We certainly hope these tariffs stop because they're creating higher prices in department stores and also tension between our small businesses and medium-sized companies."
Thompson and his organization are trying to help reach more people about the current trade tension in an effort to increase awareness.
"Our organization can write to our Congress, we can write to our senators and mention to them how our membership and some of our associates are hurt from higher prices," he said. "One thing I do know is that the tariffs need to stop. Trade barriers never work."
Co-hosted by international marketing firm Z LAB Global, the launch party attracted local politicians, business people and entrepreneurs.
