Trump defends his China strategy, Beijing says ‘not afraid’ of trade war

Lester Mason
June 14, 2019

"We remain concerned about the escalation of tit-for-tat tariffs", the companies and groups said in the letter.

"We know firsthand that the additional tariffs will have a significant, negative and long-term impact on American businesses, farmers, families and the USA economy", the letter read.

An array of retailers signed the letter, including Walmart, Target, and Costco to J.C. Penney, Jo-Ann Stores, andPetSmart.

Apple CEO Tim Cook visited the White House on Thursday to discuss job training, according to a Bloomberg News report, part of a broader administration policy to prepare workers for a changing economy.

Companies across America are not taking the Trump Administration's tariffs on Chinese goods lying down.

The economic burden of a trade war between the world's two largest economies will shift to China, rather than the United States, President Donald Trump's top economic advisor said on Thursday.

The letter came as the US Trade Representative Office plans to begin a public hearing on June 17 to solicit public comments on and responses to proposed tariff measures. As they see it, employing the full force of America's economic might, even if that interferes with the goal of maintaining an open global trade system, is a legitimate way of protecting USA national interests.

Currently, $200 billion in goods like baggage, mattresses, vacuum cleaners, and air conditioners from China are subject to a 25% tax, as of May.

AFTER raising economic uncertainty and unnerving the financial markets for close to two weeks, USA president Donald Trump announced last Friday that he was "indefinitely suspending" his May 30 threat to unilaterally raise tariffs up to 25 per cent on American imports from Mexico as part of an effort to punish it for allegedly failing to end illegal immigration across its border into the United States. "Tariffs are taxes paid directly by United States companies, including those listed below- not China".

Tariffs Hurt the Heartland, a coalition of US businesses and firms created to oppose tariffs, organized the letter to the Trump.

Walmart, the largest U.S. private sector employer and the world's largest retailer, has said tariffs will increase prices for American consumers.

Other reports by Iphone Fresh

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