U.S. companies warn Trump on China tariffs

Trump6-GageSkidmore-Flickr

Walmart, Target and more than 600 other companies have urged US President Donald Trump to resolve the trade dispute with China, saying tariffs hurt American businesses and consumers, Reuters reports.

"We know firsthand that the additional tariffs will have a significant, negative and long-term impact on American businesses, farmers, families and the U.S. economy", read the letter. "Tariffs are taxes paid directly by USA companies, including those listed below - not China".

Walmart, the largest US private-sector employer and the world's largest retailer, has said tariffs will increase prices for USA consumers.

But it is significant as US-China trade tensions escalate and comes before a possible meeting between Mr Trump and Chinese President Xi Jinping at the June 28-29 Group of 20 summit in Osaka, Japan.

The deal, struck after President Trump threatened last month to levy a five percent tariff on Mexico, raises serious human rights concerns.


The United States kicked off a tariff battle with China in 2018, seeking sweeping structural changes from Beijing.

Apple CEO Tim Cook speaks during Apple's annual Worldwide Developers Conference in San Jose, California, U.S. June 3, 2019.

Puma North America, fashion designer Alexander Wang, department store chain Kohl's and athletic shoe retailer Foot Locker were also among the companies signing on behalf of their employees.

According to a statement issued on Thursday by the Tariffs Hurt the Heartland, a bipartisan campaign against levies, 520 companies and 141 associations said in the letter that they "remain concerned about the escalation of tit-for-tat tariffs" between the United States and China, reports Xinhua news agency.

The tariffs are taxes directly paid by USA companies, not China, the signatory companies said, adding that the increase in tariffs and the uncertainty about the trade negotiations have created turmoil in markets and threaten economic growth. "We are counting on you to force a positive resolution that removes the current tariffs, fosters American competitiveness, grows our economy and protects our workers and customers".

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