Over 600 U.S. companies urge Trump to resolve China trade disputes

Over 600 U.S. companies urge Trump to resolve China trade disputes

A group of more than 600 companies and trade associations have signed a letter to the president asking him to end the trade war with China and to drop tariffs. The Office of the U.S. Trade Representative also released a separate list of imports, including footwear, that could be hit with another proposed 25% hike in tariffs.

United States President Donald Trump sat down for a talk with Apple CEO Tim Cook on Thursday to discuss worldwide trade and other topics as the President mulls over making good his tariff hike threats on goods from China.

The companies warned that the additional tariffs could create a huge penalty for the average Americans, adding $2,000 more to the cost for a family of four and reducing the U.S.'s GDP by 1%, and the amount of jobs in the country by 2 million.

San Francisco- Apple CEO Tim Cook reportedly visited the White House and met US President Donald Trump and his eldest daughter Ivanka Trump as part of his work with the White House workforce advisory board.

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Businesses state that higher tariffs are passed onto the American consumers, while a healthy trade relationship helps a broad number of people in both countries.

Walmart, the largest USA private sector employer and the world's largest retailer, has said tariffs will increase prices for American consumers. "Tariffs are taxes paid directly by USA companies, including those listed below- not China", the companies said in the letter.

In a letter sent Thursday to the White House, its 661 signatories, including Walmart, PetSmart, and the American Association of Exporters and Importers, told the Trump administration that it is concerned over the recent "escalation of tit-for-tat tariffs" between the United States and China.

"Trade overall has been good for Americans, good for consumers ... and I realize it gets criticized at times", Walmart Chief Executive Doug McMillon said last week. Prices on many goods imported from China, including vacuum cleaners, are likely to rise as President Trump enacted new tariffs on $200 billion worth of Chinese products.

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