Over 600 US Companies Urge Trump to Resolve Trade Dispute with China

Trump6-GageSkidmore-Flickr

Trump6-GageSkidmore-Flickr

Hundreds of American retailers and manufacturers are urging President Trump to resolve the trade dispute with China, saying tariffs on Chinese goods will hurt the US economy and consumers.

The meeting comes as Trump weighs whether to go ahead with proposed increases to tariffs in his trade war with China.

US companies have sent a letter on Thursday to President Donald Trump saying that tariffs on China will have a negative long-term impact on American businesses.

This letter is the latest of many sent to the Trump administration by Tariffs Hurt the Heartland, the national campaign against tariffs supported by more than 150 trade groups representing agriculture, manufacturing, retail and tech industries.

"We remain concerned about the escalation of tit-for-tat tariffs", the companies and groups said in the letter. Cook, who visits the White House on a semi-regular basis, has worked with Ms. Trump on several of her job training and education initiatives.

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Meanwhile, the ongoing US-China trade war also continues to weigh on the dollar.

The White House intends for President Donald Trump to meet with Chinese President Xi Jinping at the G20 summit in Japan later this month, though the meeting is not "formalized" yet, Kudlow said.

In the letter dated June 13, the business entities - including big-name retailers such as Walmart Inc., Macy's Inc. and Target Corp. - urged the president to return to the bargaining table and negotiate a deal to end the yearlong trade dispute between the world's two largest economies. "Broadly applied tariffs are not an effective tool to change China's unfair trade practices". Trump has also threatened to apply the same tariff on an additional $300 billion in goods in categories of more everyday items, like toys, clothing, shoes, and TV sets.

Some 600 American retailers, farmers, and manufacturers, which include Walmart and Levi Strauss, signed the letter, and urged Trump to forego levies on Beijing amid an ongoing trade war between the two countries.

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