U.S. businesses that called for new international trade policy are getting anxious as policy under President Joe Biden is closer to his predecessor Donald Trump's approach than expected, the Financial Times has reported.
"We're five months into this new administration, and we don't have a clear sense of what the China trade policy is yet," the Financial Times quoted Jon Gold, vice president at the U.S. National Retail Federation, as saying.
"This is having a big impact on companies, many of whom are struggling to survive through COVID-19 and have the extra burden of the tariffs," Gold said, according to the report published on Thursday.
As the cost of U.S. tariffs for companies buying from China has increased, more than 3,500 U.S. companies, including Coca-Cola, Disney and Ford, have filed lawsuits against the Trump administration's tariffs on China.
"The tariffs are deeply unpopular with American consumers and businesses who bear the cost," said Doug Barry, spokesman for the U.S.-China Business Council, a non-profit trade body. "Many tariffs remain in place with no indication of when or if they will be lifted."
