US-China Business Council Urges Trump to Retain Tax Treaty

The US-China Business Council is asking the Trump administration to keep the US-China Tax Treaty, warning that terminating it would harm business.

The group is “deeply concerned” about the administration’s consideration of eliminating the treaty, it said in a letter signed by its president Sean Stein. The letter added that for more than 40 years the treaty has provided “critical protections” to American companies operating in China—including nondiscriminatory taxation, capping the withholding tax rate at 10%, and providing a mechanism to resolve double tax issues.

The May 1 letter, released Tuesday, responded to a Feb. 21 memo from US President ...